Slovakia introduces incentives for electric cars

Individuals who wish to buy an electric or hybrid vehicle in the future will be eligible for subsidies amounting to €5,000. According to a report in the SME daily on Tuesday, the Economy Minister Peter Žiga (Smer-SD) announced that the ministry intends to spend €5 million in total from the Recycling Fund in support of electric cars. Respective calls should be announced soon, and details are currently being fine-tuned. The ministry is searching for a way to prevent speculation, for example, where an electric car could be purchased with a subsidy in Slovakia, then exported the next day and sold elsewhere at a higher price. The state wants to boost "e-mobility" in Slovakia via this subsidy, with studies showing electric vehicles as being more environmentally friendly than their petrol or diesel driven counterparts. However, the problem holding up adoption of such vehicles is their high purchase cost. While a petrol-fuelled Volkswagen Golf costs around €16,000, an e-Golf can cost up to €35,000.