Hungary to Launch HUF 60 bln EV Subsidy Scheme

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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 on Thursday, according to a report by state news wire MTI.

Half of the program funding will be used to subsidize purchases of EVs by companies and sole proprietors, such as carsharing 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.

The minister 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 has an electric bus plant in Komárom and has announced plans to build a battery assembly plant on the outskirts of the capital.

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