Economic Benefits of Electric Vehicles

1. Incentive to purchase electric vehicles.

In Greece, there is a government subsidy when purchasing an electric vehicle, either a new one or a converted one. The subsidy is 30% for the first 30,000 Euros of the price of the vehicle plus

15% for the price above 30,000 Euros. For example, if the vehicle costs 50,000 Euros, the subsidy is 30% of the first 30,000 Euros, which is 9,000 Euros, 15% of the remaining 20,000 Euros, which is 3,000 Euros. Total subsidy: 12,000 Euros. Net price to the buyer of the vehicle: 38,000 Euros.

2. Savings on registration fees.

In Greece, there is an annual registration fee that starts at around 200 Euros for small cars and

reaches well above 1,000 Euros for large vehicles. Electric cars pay no registration fees.

3. Savings on maintenance.

Electric cars require practically no maintenance. No oil changes, no tune-ups, no engine repairs. It is estimated that the savings on maintenance amount to at least 300 Euros per year.

4. Savings on fuel.