New €2.5m electric vehicle subsidy plan expected to be exhausted early

The government’s new subsidy plan for electric vehicles is expected to be fully claimed before its official deadline, Transport Minister Alexis Vafeades said on Saturday, pointing to considerable interest from car importers and the public.

With the new plan, Vafeades said, the government would invest state resources amounting to €2.5 million.

“Therefore, we are starting with the availability of these 97 applications – details are included on the website of the Road Transport Department – giving those who were not able to participate in the previous plan the opportunity to participate now,” he said.

The new plan follows the existing grants plan for electric mobility from the previous one which was part of the recovery and resilience fund, of which 97 grants were left unallocated. Those interested, should register by the end of the year.

He added that when these grants are exhausted, the state would support the project with a further €2.5 million.

The conditions for participation in this scheme, he said, were the same except for the deadline for registering the new vehicle, being October 31, 2025.

Vafeades added that, based on feedback from importers, he believed that the available funds would be be depleted well before the deadlines.