Latvian state to issue grants for purchase of electric vehicles

At a meeting on Tuesday, December 21, the government approved a grant program developed by the Ministry of Environmental Protection and Regional Development (VARAM) for the purchase of electric vehicles.

The program provides state aid for the purchase of electric vehicles and externally chargeable hybrid vehicles with a view to contributing to the reduction of greenhouse gas emissions, VARAM said.

The total amount of funding available under the aid program is EUR 10,000,000. The amount of funding for new electric vehicles is set at €4,500, for second-hand electric vehicles and for new hybrid vehicles – €2,250.

An additional aid of €1000 will be granted for the scrapping of an existing vehicle by transferring it to the treatment company under the legal proceedings, as well as the possibility of obtaining an additional discount provided by the car dealer or another one or more incentive solutions.

“The transport sector accounts for almost a third of Latvia's total greenhouse gas emissions, where road transport is the largest source of emissions. Although the decarbonization of the transport sector cannot be achieved by a single solution, in general, the reduction in greenhouse gas emissions from this sector will be largely linked to electrification in the future. The support program will be one of the measures to promote Latvia's progress towards climate objectives and to give residents the opportunity to purchase and use modern and modern vehicles for daily travel,” explained Environment Protection and Regional Development Minister Artūrs Toms Plešs.

Given the amount of funding available, VARAM forecasts that the total number of electric vehicles and externally chargeable hybrids purchased could reach 3,800.

 

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