The Hungarian government has announced a significant funding program of 90 billion forints to support the development of electromobility, with a particular emphasis on expanding charging networks. This new opportunity provides a framework for businesses to procure electric vehicles and enhance sustainable energy infrastructure.
The government's goal is to promote sustainable mobility, especially encouraging the adoption of electric vehicles among businesses. Of the allocated funding, 30.1 billion forints are specifically meant for the expansion of EV charging infrastructure. The call for applications to promote the use of green energy will be open for 13 months from 5 February 2024, according to the Ministry of Energy. The statement also emphasizes that the future of the Hungarian economy lies in green energy, considering that a quarter of harmful emissions are attributed to transportation, with a significant portion caused by road traffic.
"Electric cars are the most important tool for greening the sector, as the average electric car today produces up to 70-90% less emissions over its lifetime than an internal combustion engine car, and their use can represent a significant sustainability investment for companies," - we wrote in our latest e-mobility study.
Who can apply?
A The call is open to companies and entrepreneurs in Hungary, with the exception of car dealers and car rental companies. Fleet service providers are in a special situation, as they can benefit from a special program to obtain a discounted loan for the purchase of electric vehicles.
The proposal, drafted by the Energy Ministry, was approved by the EU in December.
"The scheme will be financed through the loan part of the national recovery plan, as set out in the REPowerEU chapter, which includes energy related measures and investments." - Index reports.
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