Last year, the Environmental Protection Fund (EKO Fund) provided Montenegrin citizens with subsidies amounting to 819 thousand euros for the purchase of electric and hybrid vehicles.

According to the Eco Fund for Forbes Montenegro, this amount was allocated through public competitions targeting individuals, businesses, and the public sector.

“The allocation of such a substantial budget for subsidies reflects the Eco Fund’s commitment to fostering sustainable development. Through these competitions, the Eco Fund makes environmentally friendly vehicles accessible to the public, thereby decreasing energy dependence and aiding in the preservation of clean air and natural resources. This financial support also encourages the transition to more energy-efficient vehicles, enhancing users’ economic efficiency,” stated representatives from the Eco Fund.

The subsidy amounts to 7,500 euros for electric vehicles and 4,000 euros for hybrids.

The Eco Fund is crucial in reducing harmful gas emissions and promoting sustainable transport, as indicated by the institution.

“These subsidies offer a significant incentive for citizens and entrepreneurs to invest in eco-friendly technologies, contributing to environmental protection. Support for purchasing electric and hybrid vehicles facilitates a shift toward green technology, mitigating pollution and aiding in the achievement of carbon footprint goals,” representatives from the Eco Fund mentioned.

When asked how citizens can apply for the electric/hybrid vehicle subsidy, they stated that applications would be accepted following the announcement of the public competition.

“Applications should be submitted along with the required documents in a sealed envelope at the Archives of the Eco Fund, or via mail, as was done in the previous competition. Applications will be evaluated based on the order of arrival, until the deadline specified in the competition, or until the available funds are exhausted, whichever comes first. To apply, applicants must have fully completed the vehicle purchase or signed a sales agreement with a deposit paid,” explained the Eco Fund.

This application process, they assert, promotes transparency and equity in the subsidy allocation.

“A just and efficient application procedure helps to optimize the distribution of subsidies, rendering this process accessible to the general public while simultaneously supporting the implementation of environmental goals and sustainable development policies,” the Eco Fund representatives noted.

As previously reported by Forbes Montenegro, a total of 3,050 electric vehicles were registered in Montenegro as of October last year, according to the Ministry of Internal Affairs (MUP).

The MUP clarified that these figures pertain to both electric vehicles and hybrid vehicles (which use a combination of electric and fossil fuel drive).