The new electric vehicle grant scheme will be announced in December 2023, according to a statement by the Ministry of Transport, Communications and Works. It is noted that the scheme will involve subsidies for the purchase of both electric vehicles and low CO2 emission vehicles up to (50 g/km), as well as the scrapping of old polluting vehicles.

It is recalled that two similar sponsorship schemes have already been completed with a high impact. The Ministry says that the electric vehicle grant schemes contribute to achieving its goal of reducing pollutants in transport, based on the Republic of Cyprus' commitments to the European Union, as recorded in the National Energy and Climate Plan 2021-2030.

It is also noted that the grant schemes are financed by the European Union's Recovery and Resilience Fund.