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A program to support businesses’ purchases of electric vehicles could be launched in February next year, the Ministry of Energy said in a statement on Sunday.
As it is planned, Hungarian companies could apply for non-refundable state contributions from a HUF 30 billion (EUR 78.7 million) budget for the purchase of pure electric cars, vans or minibuses. The draft call for proposals to promote the use of green energy is now open for comments, and the final call for proposals could be published by the beginning of next year. Applications are expected to be open for thirteen months from February 1, 2024.
According to the Ministry, there are already nearly 85,000 electric vehicles on the roads in Hungary, and more than half of them are pure electric cars.
The government is encouraging companies to purchase e-vehicles through the program that is currently under public consultation.
The subsidies will significantly reduce the price advantage of conventional cars, making the purchase of electric cars, trucks and vans more attractive and affordable, reads the statement.
Hungarian companies and individual businesses providing taxi services or employing at least two people can apply for support under the call for proposals, which will be launched next year. Fleet service providers will be able to apply for a preferential loan for the purchase of electric vehicles in a separate program. Businesses with less than 10 employees can purchase up to one vehicle, between 10 and 49 up to five, between 50 and 249 up to ten and up to 16 for larger companies.
The minimum grant per company is therefore HUF 2.8 million (EUR 7,340) and the maximum amount of funding available is HUF 64 million (EUR 167,800).
Advance funding from the loan part of the National Recovery Plan could be made available to Hungary as early as the beginning of next year, following the recent approval of the European Commission’s earlier decision by the Council of EU Finance Ministers. The REPowerEU chapter, including energy measures and investments, could receive nearly EUR 1 billion in two tranches in 2024. The government will use a total of HUF 60 billion (EUR 156 million) from the REPowerEU framework to expand the domestic electric charging network to green transport, in addition to supporting corporate vehicle procurement.
Via MTI, Featured image: Pixabay