News Local Keen interest in government's electric car incentives scheme

Keen interest in government’s electric car incentives scheme

More than 724 applications have already been submitted as part of a government incentive scheme to encourage the purchase of electric vehicles.

The scheme — a grant of €5,000 that goes to €7,000 if combined with the scrapping of an old car, had initially been intended for only 100 cars.

But in view of the flurry of applications from the start of the scheme, Transport Minister Yiannos Karousos has already said the scheme will be extended.

Anticipating lukewarm interest, the ministry had budgeted €500,000 to subsidise the purchase of 500 electric cars. In view of  the number of applications submitted,  it will now either have to fork out €3.6 m to satisfy them or disappoint 86% of the applicants.

Moreover, 2319 applications had been submitted by Friday afternoon for the €2,000 grant to scrap a car older than 15 years and replace it with a hybrid or a car with up to 1800 cc and emissions up to 160 gr per km.

Here too demand exceeds the €2.5 m budgeted by the ministry for 1250 applications.

The criteria for the electric car scheme is the date of the application while for the hybrid or conventional car the age of the car that is being scrapped.

Applications are being accepted until March 5.

 

https://in-cyprus.com/450-applications-for-electric-car-subsidy-scheme-to-be-extended/

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