The ministry said that around 3,700 businesses had submitted applications for more than HUF 17 bln of subsidies to buy close to 4,500 vehicles.

The applications are for almost 3,400 passenger cars and more than 1,000 light commercial vehicles. EVs made by China’s BYD are the most popular choice among applicants.

Businesses may apply for grants of between HUF 2.8 million and HUF 4 mln per vehicle, depending on battery capacity, in the program financed from the European Union’s REPowerEU fund.

The HUF 30 bln scheme runs until March 2025.