Gov't to Present EU-wide Support Scheme for EV Purchases in July

Analysis

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In order to speed up the transition to electric vehicles the Hungarian government will propose and present to European Union member states in July an EU-wide incentive program for car purchases, which will cover both new and used vehicles, National Economy Minister Márton Nagy said late on Tuesday, according to a report by state news wire MTI.

A strong and competitive European automobile industry is in Hungary's interest, therefore it is necessary to increase performance and accelerate the shift towards electric cars in Europe, the minister said. Protectionism and punitive tariffs are foolish and are a step against cooperation and the free market economy, he added.

Nagy was speaking on the occasion of Szechenyi Istvan University and the Hungarian Mobility Development Agency (HUMDA), which operates under the school's aegis, signing of a memorandum of understanding on research cooperation with the European unit of Chinese EV maker NIO.

Chinese ambassador to Hungary Gong Tao said China has achieved significant results in green transition, Chinese companies contribute to the sustainable development of the world economy, and the new Chinese vehicle industry companies settled in Hungary also participate in this, such as NIO.

VP of NIO Europe Hui Zhang said the university is at the forefront of innovation and preparation for the future and Hungary's commitment to innovation made this cooperation possible.

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