The government of Cyprus has unveiled a comprehensive subsidy programme designed to accelerate the adoption of electric vehicles (EVs) and plug-in hybrids while phasing out old combustion engine vehicles. The initiative, spearheaded by Minister of Transport Alexis Vafiadis, marks the implementation of the third electric vehicle subsidy scheme aimed at curbing emissions and pollution.
Under the programme, a fund of 9,000 euros has been allocated for the procurement of new electric cars, with additional grants available for used vehicles. The subsidies are categorized based on vehicle type and intended use, catering to privately owned vehicles, taxis, minibuses, motorbikes, light vehicles, and pedelecs.
Privately owned vehicles constitute a significant portion of the funding, with subsidies ranging from 7,500 to 9,000 euros for the replacement of old combustion vehicles with low CO2 emission or zero-emission vehicles. Second-hand vehicles also qualify for subsidies, providing incentives for the transition to cleaner transportation options.
Taxis are eligible for substantial subsidies of up to 12,000 euros for the replacement of low CO2 emission vehicles, while disability vehicle users and large families receive varying levels of support for the purchase of low-emission or zero-emission vehicles.
Furthermore, the programme extends support to small cars and motorcycles, offering subsidies ranging from 1,500 to 4,000 euros for emissions-free vehicles. Additionally, electric bicycles and bus tickets are included in the incentives, further incentivizing sustainable modes of transportation.
An intriguing aspect of the programme is its differentiation between natural and legal persons, with distinct limitations on the number of applications allowed per entity. Natural persons are limited to one application per vehicle type, while legal persons are entitled to a maximum of 20 applications for new vehicles, subject to de minimis rules.
Applications for the subsidy programme are set to open on February 17th, signaling the government’s commitment to promoting the adoption of electric vehicles and reducing environmental impact through targeted incentives and support measures.
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Where in Cyprus can I buy an electric bike that meets the subsidy requirements?