Bulgaria approves electric, hybrid cars incentives plan

Written by on October 17, 2012 in Bulgaria, Business, News - No comments

Bulgaria’s Cabinet approved on October 17 a plan meant to stimulate the sale and production of electric and hybrid cars, as well as the necessary infrastructure required by such cars.

The biggest incentive offered by the plan is a one-off purchase subsidy of 5000 leva for buying an electric car and 2500 leva for buying a hybrid. The funding for the subsidies is expected to come from the sale of carbon credits, so it was unclear how many people could benefit from the subsidy.

The plan also envisions possible tax breaks for owners of electric and hybrid cars, such as free registration and the prospect of waiving the annual tax owed by car owners. Another mooted change is amending the Traffic Act to allow such cars to drive in the bus lanes in Bulgaria’s largest cities.

For producers, the plan offers lower thresholds to qualify for investment certificates, which in turn give companies tax breaks and other incentives. Using funds from EU operational programme for encouraging competition, Bulgaria will offer funding for innovative start-ups.

Municipalities will be asked to present detailed plans for building the required recharging infrastructure by the end of 2013.

(A sign pointing to an electric car recharging station in Paris, France. Photo: David Megginson/flickr.com)

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