Government-backed electric vehicle initiative experiences a breakdown in Latvia
The European Union Social Climate Fund will be providing funding for a new support programme aimed at promoting the purchase of electric cars, particularly for vulnerable households and micro-enterprises. This programme is set to be launched next year.
Currently, the Electric Car support programme, funded by the Emission Allowance Auction Instrument (EKII), is operational until 31 December 2025 or until the available funding runs out. By 11 August this year, €27.7 million had been spent on this programme.
Out of the total number of electric cars registered in Latvia, approximately 37% were purchased with state support. The amounts of state support for electric cars range from €3,350 to €9,000. To date, this programme has benefited 5,600 households.
The effectiveness of the Electric Car support programme and the Modernisation Fund, both funded by the EKII, is currently being evaluated. No additional funding will be granted for the current Electric Car support programme, and no decision has been made on whether and how support will be continued beyond 2025, or if it will be targeted only at vulnerable groups.
The balance of funding for the Electric Car support programme will be fully utilised in the coming weeks, although no information is given about its current balance or expected utilisation. Activity over the past months indicates a high level of usage for the programme.
The future subsidy program for buying electric cars for low-income households and micro-enterprises, announced for the next year, is expected to be financed by a public institution. However, the exact financing body has not been explicitly disclosed. The funding for this new support programme will be provided by the European Union Social Climate Fund, as previously stated.
No decision has been made regarding the status of the new support programme for electric cars for vulnerable households and micro-enterprises. The Electric Car support programme, valid until the end of 2025, will continue to support the transition to electric vehicles in Latvia.
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