Cyprus plans subsidies for e-vehicles
Cyprus Transport Minister Alexis Vafeades unveiled a new 36.5-million-euro electric vehicle subsidy scheme on Thursday, financed by the EU’s Recovery and Resilience Facility.
The comprehensive initiative includes grants and sponsorships for purchasing vehicles that do not emit harmful carbon dioxide into the atmosphere, scrapping old polluting vehicles, and promoting electric bicycles. The project aims to incentivize the adoption of environmentally friendly transportation in Cyprus.
The scheme covers various aspects: A grant for purchasing zero-emission vehicles (pure electric vehicles); scrapping old polluting vehicles combined with a subsidy for buying low-emission vehicles; scrapping old polluting vehicles along with providing bus tickets and a supplementary one-off payment; and a grant for purchasing electric bicycles.
Subsidies for vehicles start from €7,500 (for private cars with the withdrawal of a conventional vehicle), and reach up to €15,000 for a new commercial vehicle. Subsidies for electric bicycles amount to €500 each.
The platform for submitting applications is ev.gov.cy, and opens for applications on February 17.
