Second EV subsidies plan, offering bigger amounts, imminent

A second round of subsidies for electric vehicle purchases, offering as much as 8,000 euros per vehicle, is expected to be announced imminently by energy minister Kostas Skrekas, possibly even during the day, ahead of an anticipated launch in April.

According to sources, the second package will offer EV subsidies worth 30 percent more than those making up the first round.

A 6,000-euro upper limit had been set for the first package, but this level is now expected to be increased to 8,000 euros.

The second EV subsidy package is expected to total between 30 and 40 million euros, which, according to sources, will stem from the Energy Transition Fund as well as leftover funds from the first package.

Electric bicycles and tricycles are once again expected to be included in the new EV subsidy package, to be made available for both individuals and companies.

The subsidy support package is also believed to include incentives, worth as much as 2,000 euros per applicant, for the withdrawal of older vehicles.

Energy ministry officials have expressed satisfaction over the public’s response to the first EV subsidy package. A total of 18,000 applications were submitted, generating turnover of 70 million euros in the market, according to the energy ministry’s secretary-general Alexandra Sdoukou.

Subsidy applications for electric bicycles dominated the government’s first EV subsidy package with a 69 percent share, while 22 percent of applications concerned motorbikes and nearly 10 percent were for cars, Sdoukou has informed.

The prospect of a VAT reduction, from 24 to 6 percent, for EVs is being examined, the official has noted.