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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