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17 June, 2024
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Cyprus sees surge in electric vehicle interest, prompts policy review

Applications totaling €11.4 million out of the allocated €36.5 million


Two months after the launch of Cyprus' electric vehicle subsidy program, public interest is surging, prompting officials to review policy measures, according to a report by Maria Eracleous in Wednesday's Oikonomiki paper.

According to the Ministry of Transport, the response from the public has been deemed satisfactory, with applications totaling €11.4 million out of the allocated €36.5 million. This marks a significant milestone in the nation's efforts to embrace sustainable transportation.

However, while some categories, such as grants for purchasing new electric vehicles for private use, have witnessed a surge in applications, others, like electric bicycles, have seen minimal interest.

In popular categories, grants for replacing low-emission private vehicles with new ones have garnered considerable attention, as have incentives for large families transitioning to electric vehicles.

Yet, certain sectors, including taxi vehicles and electric small cars, remain largely untouched by the electric fervor, with grants sitting idle and applications scarce.

Minister of Transport, Alexis Vafeiadis, affirmed the government's commitment to sustainability, pledging to reevaluate the subsidy plan to align it with evolving demands. Consultations with stakeholders are underway, with decisions expected in the coming months.

Cyprus stands at a pivotal moment in its transition to cleaner transportation, with the potential for policy adjustments to propel the nation towards a greener future.

[This article is a summary of the original in Greek published in Wednesday's Sunday edition]

Cyprus  |  transport  |  cars  |  technology

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