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Interest strong for EV subsidies

Hungarians submitted almost 900 applications for a combined HUF 4 billion in subsidies for purchases of fully electric vehicles and bicycles with auxiliary electric motors within hours after the tender was opened in the morning on Monday, state secretary for energy and climate policy Péter Kaderják said, according to a report by state news wire MTI.

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A decision on whether to raise the HUF 5 bln funding allocation for the scheme will be taken later after the applications are assessed, Kaderják said.

He noted that taxi drivers had applied for nearly their entire HUF 2 bln share of the funding earmarked for the scheme.

Taxi drivers may cover up to 55% of their vehicle purchases with the subsidies.

Subsidies are capped at HUF 2.5 million for EVs up to HUF 11 mln, while those priced between HUF 11 mln and HUF 15 mln are eligible for just HUF 500,000 in support.