Gov't Launching HUF 60 bln EV Program

Automotive

The government will launch a HUF 60 billion program in November to put more electric vehicles on Hungary's roads, Minister of Foreign Affairs and Trade Péter Szijjártó said in Shenzhen this week, according to origo.hu.

Half of the program funding will be used to subsidize purchases of EVs by companies and sole proprietors, such as car-sharing businesses and taxi drivers, Szijjártó said.

The other half will support the construction of 170 high-capacity charging stations on the country's busiest roads over the next two-and-a-half years, he added.

Szijjártó said he had outlined the scheme at a meeting with Chinese EV maker BYD's chairman, who welcomed the measure. BYD launched sales of its EVs in Hungary a couple of days earlier.

BYD also has an electric bus plant in Komárom (85 km northeast of Budapest) and has announced plans to build a battery assembly plant on the capital's outskirts.

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