Home Technology Incentive scheme to purchase electric vehicles launched

Incentive scheme to purchase electric vehicles launched

Incentives for the purchase of electric vehicles, together with taxis and buses, and transportation means with decrease emissions together with a automobile scrappage scheme had been introduced on Thursday by Transport Minister Yiannis Karousos.

The schemes, a step in the direction of the transition to inexperienced transportation, had been authorised by cupboard this week.

The first scheme, with a €4m price range, considerations the scrappage of vehicles older than 12 years and their alternative with new ones with decrease emissions, or with electric bicycles or in alternate for bus tickets.

For the scrappage of an previous automobile and its alternative with a brand new one which emits lower than 50 grammes per kilometre of carbon dioxide, the subsidy is at €7,500. In whole 360 subsidies will probably be given.

Those wishing to scrap an previous automobile and purchase a taxi that emits lower than 50g/km CO2 the subsidy is €12,000 (33 subsidies).

For the scrappage of an previous automobile and purchase of a brand new one for disabled folks emitting lower than 50g/km CO2 the subsidy is €10,000 (20). The identical applies for buying a automobile for big households (20).

Regarding the withdrawal of an previous automobile and its alternative with a brand new electric bicycle, the subsidy is at €1,000 (533), whereas for the withdrawal of an previous automobile in alternate without cost tickets on common bus traces the subsidy will quantity to €750-worth of coupons (100).

The vehicles should not exceed €80,000 together with VAT, whereas for bicycles, the ceiling was set at €6,000.

Applications for this scheme will probably be accepted between December 6 and 20. Priority will probably be given based mostly on the age of the automobile slated for scrappage. Older ones will probably be given precedence.

For the purchase of electric bicycles, purposes will probably be accepted between January 17 and 31.

The vehicles slated for scrappage will need to have a sound highway tax licence and be registered in Cyprus for the previous consecutive seven years. In case a automobile has been immobilised, it will need to have a sound highway tax licence throughout the final 18 months and never have a cancelled registration on the day the purposes begin.

The second scheme is within the type of an “eco-reward” for the purchase of zero-carbon emissions (purely electric) vehicles, together with bicycles, with non-obligatory, subsidised scrappage of previous vehicles, aged 12 years and over. The price range for this scheme is €8m.

For the purchase of a brand new electric automobile, the subsidy is €9,000, and an extra €1,000 if candidates need to scrap an previous automobile. In whole 360 subsidies will probably be given for this class.

For taxis, the quantity is €19,000 plus €1,000 for the non-obligatory scrappage of an previous automobile (24). For vehicles for disabled folks (13) or giant households (13), the quantity is €11,000. The non-obligatory scrappage of an previous automobile additionally applies right here. The new vehicles should not exceed €80,000 inlcuding VAT.

The scheme additionally gives for the purchase of a used electric automobile with a €4,000 subsidy plus €1,000 if candidates want to scrap an previous one. In whole 320 subsidies will probably be given.

For used taxis the subsidy is €12,000 (25), whereas for the purchase of a used automobile for disabled folks (15) or giant households (15), the quantity is €7,000. An extra €1,000 will probably be given for the non-obligatory withdrawal of an previous automobile.

This applies for vehicles that aren’t over €50,000 and had been initially registered on January 1, 2019 or later.

The scheme additionally gives subsidies for the purchase of huge electric buses (€100,000), small buses (€40,000), industrial vehicles (€20,000) and the purchase of electric mopeds, bikes, tricycles, or light-weight four-wheel vehicles (€1,500).

Applications will probably be accepted between December 20 and January 3 on a first-come first-served foundation.

According to Karousos, who stated 50 per cent of emissions come from transportation, these schemes intention to promote electric motoring and the introduction of extra electric vehicles within the nation but additionally vehicles with low carbon dioxide emissions.

On the advantages of electric vehicles, Karousos referred to low charging prices with a discount of up to 64 per cent compared with standard gas, free highway tax licence, free parking in some municipal parking areas, low upkeep prices, and discount of pollution even in the way in which vitality is produced at present in Cyprus.

He stated the objective is for electric vehicles to make up one fourth of newly registered vehicles by 2030 with a gradual rise of those numbers so that the majority of recent registrations by 2035 concern electric vehicles.

For extra data and purposes: www.ev.gov.cy

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