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Schemes to promote low-carbon and electric vehicles purchase

26/11/2021 09:36

Cyprus Minister of Transport, Communications and Works Yiannis Karousos presented on Thursday the government subsidy schemes for the purchase of low – carbon or electric vehicles, stating that the aim is for 36,000 electric vehicles to be registered by the end of 2030.

Speaking during a press conference, the Minister said Cyprus’ national target is for 25% of new vehicle registrations to be electric by 2030 with the ultimate goal that all cars registered by 2035 will be electric. He added that only 250 electric vehicles were soled in 2021.

According to Karousos, the Plan for the withdrawal of polluting cars and incentives for alternative, low-emissions mobility provides for total subsidies of €4 million for the first phase and scrappage of older cars to be replaced by new vehicles with CO2 emissions up to 50g per Kilometre or the purchase of new electric bicycle or provisions of bus tickets.

The cars to be scrapped are saloon, or double cabin cars that have been registered in Cyprus in the last seven consecutive years with a valid road tax certificate or having a valid immobilisation certificate.

The old car scrappage incentive ranges from €7,500 to €12,000, he said.

If the scrapped car is replaced with a new car with up to 50g/Km CO2 emissions, the subsidy will amount to €7,500, for the scrappage and replacement of a new taxi car with up to 50g/Km CO2 emissions, the subsidy will amount to €12,000, the subsidy for the scrapping and the replacement of a new car for people with disability with emissions up to 50g/Km CO2 emissions will amount to €10,000, while the subsidy for large family cars with up to 50g/Km CO2 emissions will amount to €10,500.

The subsidy for the scrappage of an old car and its replacement with a new electric bicycle will amount to €1,000 while the scrappage of an older car with the option for using public transportation will attract a subsidy of €750, he added.

The scheme will be launched on December 6 until 20 December 2021.

Furthermore, the first phase of the Scheme for subsidising the purchase of electric vehicle features a budget of €8 million and will concern the purchase of electric vehicles or e-bikes accompanied with a reward when opting for zero-emissions cars, accompanied with a subsidy for scrapping older cars.

The subsidies range between €9,000 for the purchase of a new electric vehicle plus €1,000 and rise up to €19,000 plus €1,000 for scrappage of the older car.

For electric cars for individual usage, the government will provide a subsidy of €9,000 plus €1,000 for scrappage of the older car, for electric cabs the subsidy will amount to €19,000 plus €1,000 for scrappage, while the subsidy for purchasing electric cars for persons with disabilities and large families will amount to €11,000 plus €1,000 for scrappage.

The scheme also provides for subsidy ranging from to €4,000 plus €1,000 for scrappage and the purchase a private used electric vehicle, for the purchase of a used electric car to be used as a taxi the subsidy will amount to €12,000 plus €1,000 scrappage, while the subsidy for the purchase of a used electric car for persons with disabilities or large families will amount to €7,000 plus €1,000 for scrappage of older cars.

Furthermore, the scheme provides for subsidies of €100,000 for the purchase of large electric buses, €40,000 for the purchase of small electric buses, €20,000 for the purchase of electric commercial vehicles, as well as the purchase of four-wheel or small electric vehicles or e-bikes, three-wheeled vehicles, electric motorcycle or light four-wheeled vehicle.

The scheme will be launched on 20 December until January 3 and applications will be on the first-come-first serve basis, he said.