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Government expands electric vehicle subsidies in Hungary

Staff Writer |
The government of Hungary is raising the electric vehicle subsidy threshold for corporate fleets from five to 35 vehicles, István Lepsényi, state secretary at the Ministry for National Economy, said.

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The government is offering to cover 21% of the cost of purchasing a fully electric vehicle for corporate fleets up to HUF 1.5 million.

There are more than 3,000 EVs on the roads in Hungary. Such vehicles are exempt from registration tax and a number of other fees, according to national news agency MTI. Last year, the government allocated HUF 2 billion for the subsidies.

So far, more than HUF 700 mln has been paid out on almost 500 purchases. Private individuals now account for 42% of those awarded the subsidies, up from 30% last year.

The central government is offering local councils grants to cover 100% of the cost of installing charging stations. So far, applications by 75 municipal councils for a combined HUF 533 mln in funding have been approved. The subsidies will support the installation of 443 charging stations.

The threshold for subsidies will be scrapped for budget-funded institutions, Lepsényi added.

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