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New Grant Scheme for Electromobility Being Developed by MOT

Published March 16, 2026, 14:11
New Grant Scheme for Electromobility Being Developed by MOT

The Ministry of Transport, Communications and Works is developing a new grant scheme to promote electromobility, which will be valid until 2030. The new scheme will provide annual grants, following the program that was included in the Recovery and Resilience Plan and had a time horizon until 2026. The aim is to further encourage the transition to electric vehicles, despite the fact that their price remains relatively high compared to conventional vehicles. In 2025, approximately 2,500 electromobility grants were awarded, totaling €21.5 million. The Ministry's goal is for approximately 85,000 electric vehicles to be circulating in Cyprus by 2030, however this goal depends on international developments in the automotive market. At the same time, the Ministry is monitoring the growing interest in hybrid vehicles, as reducing emissions is the main goal of the policy.