Economy category powered by

Third electric vehicle grant scheme in December 2023

07:51 - 13 November 2023

Economy Reporter

The new electric vehicle grant scheme will be announced in December 2023, according to a statement by the Ministry of Transport, Communications and Works.

It is noted that the scheme will involve subsidies for the purchase of both electric vehicles and low CO2 emission vehicles up to (50 g/km), as well as the scrapping of old polluting vehicles.

It is recalled that two similar sponsorship schemes have already been completed with a high impact. The Ministry says that the electric vehicle grant schemes contribute to achieving its goal of reducing pollutants in transport, based on the Republic of Cyprus' commitments to the European Union, as recorded in the National Energy and Climate Plan 2021-2030.

It is also noted that the grant schemes are financed by the European Union's Recovery and Resilience Fund.

(Source: CNA)

News Feed

Read More

Significant drop in car registrations, 20.2% plunge in saloons in April
Inflation rate at 0.2% in April
Modernising CoLA is the only viable path forward.
Competitiveness Council urges fiscal prudence amid global risks
Over 550 Cypriots working in London show interest in government's Brain Gain initiative
University of Cyprus generated €1.186b in economic output last year
President: No more spending on defence equipment without participation of Cypriot companies
Eurostat: Cyprus has second highest electricity prices in Europe compared to purchasing power
Number of unemployed down 13.1% y-o-y in April
RISE: Partners conclude European project for research, innovation and urban regeneration