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Cyprus is rolling out a new €2.5 million electric vehicle subsidy scheme, but only 260 spots are up for grabs, and buyers will need to move fast. Unlike previous rounds, this plan gives applicants just a few short months to finalize their paperwork and register their vehicles with the Road Transport Department (TOM) by the end of October if they want to receive their grant money by year’s end.
According to Kathimerini's Dorita Yiannakou, the scheme officially opens for applications on Tuesday, July 8, and is designed to boost the local market for electric and hybrid vehicles through direct government subsidies. It’s a more aggressive and time-sensitive approach than in the past, previous plans gave people up to 18 months to complete the process.
What’s on offer
The Transport Ministry has earmarked 260 new subsidies, with the same financial incentives as previous rounds. Most of the funds will go toward private buyers looking to purchase new, zero-emission electric vehicles under €80,000, a category that includes 150 grants of €9,000 each.
There are also:
- 40 grants of €7,500 for new hybrid vehicles with low CO₂ emissions
- 50 grants of €9,000 for used electric vehicles priced under €35,000
- 10 grants of €20,000 each for people with disabilities (Category C7)
- 10 grants of €20,000 each for large families (Category C8)
Citizens who ordered their vehicles after the last scheme ended can also apply for a grant under the new plan.
Race against the clock
With such a tight timeline, the Road Transport Department is urging applicants to prioritize vehicles that are already available for immediate delivery, rather than waiting on factory orders that could miss the October deadline.
“Choosing a car that’s ready to go helps avoid unnecessary delays,” TOM officials said, adding that the quicker buyers can register their cars, the sooner they can benefit from the subsidies.
Growing demand, limited support
Cyprus has seen growing interest in electric vehicles since the subsidy programs began. Since December 2022, the government has approved 3,200 applications and paid out €26 million. But demand still far outweighs supply. The 115 reallocated subsidies from the previous round were snapped up just days ago, forcing the application portal offline until the new plan launches next week.
Even so, concerns are mounting over how far the current scheme can really go.
Industry pushback
The Association of Motor Vehicle and Electric Vehicle Importers (SEMIO), part of the Cyprus Employers and Industrialists Federation (OEB), welcomed the new plan but warned it’s too small to meet public demand or environmental goals.
After an emergency meeting, the group issued a list of recommendations, including:
- A significant budget increase to help meet the national goal of 80,000 zero-emission vehicles by 2030
- A permanent, stable subsidy program rather than the current stop-start approach
- Reinclusion of electric commercial vehicles, which were dropped from this round
- An extension of the registration deadline to October 2025, calling the current deadline unrealistic
- A focus on new vehicles, citing concerns about double subsidies on used EVs already supported in other EU countries
While acknowledging the financial limits many families face, SEMIO stressed that any EVs on Cypriot roads must meet strict EU safety standards. The association warned that meaningful progress on green mobility can’t be achieved through rushed or piecemeal efforts.
Government perspective
Transport Minister Alexis Vafeiadis maintains that electric mobility remains a top government priority. The goal, he says, is to make clean transport more accessible while staying aligned with Cyprus' broader environmental commitments.
Whether the tight timeline and limited funding will help or hinder that transition remains to be seen. But one thing is clear, if you’re thinking of applying, you’d better move quickly.
