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Close to 2,500 Companies Apply for EV Subsidies

Automotive

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Close to 2,500 businesses have submitted applications for subsidies in a scheme to support purchases of EVs, the Energy Affairs Ministry said on Thursday, according to a report by state news wire MTI.

The companies have applied for HUF 11.6 bln of support for the purchase of over 3,000 EVs.

They include close to 2,300 cars and over 700 light commercial vehicles. The most popular brands in the scheme are BYD, Tesla and Volvo.

Businesses may apply for grants of between HUF 2.8 mln and HUF 4 mln per vehicle, depending on battery capacity, in the programme funded by HUF 30 bln from the European Union's REPowerEU. The program runs until March 2025.

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