Hungarian companies have submitted subsidy requests for over 1,500 BYD electric vehicles, making the Chinese automaker the most sought-after brand in the country’s state-supported EV programme, according to the Ministry of Energy. Tesla, the second most popular choice, trails with over 1,100 vehicles.
Hyundai has also gained traction, surpassing 500 applications, while other notable brands exceeding 250 requests include Volvo, Kia, Volkswagen, and Cenntro.
While BYD leads in overall sales, Tesla finds success in individual model rankings. The Tesla Model Y has received more than 700 purchase requests, making it the most in-demand EV. Meanwhile, the once-dominant BYD ATTO 3 has seen a decline in popularity, now surpassing only 550 orders. Among the most requested models, only the Volvo EX30 has managed to challenge the stronghold of Tesla and BYD, as it joins the ranks of high-demand EVs.
So far, Hungarian businesses have applied for subsidies covering approximately 6,800 electric vehicles, with BYD and Tesla accounting for more than a third of these applications. The government offers grants of 2.8 to 4 million forints per vehicle, with a maximum of 64 million forints per applicant, to support the purchase of electric passenger cars, vans, and minibuses. This initiative is expected to reduce fleet maintenance and operational costs for companies while promoting greener transportation.
According to the Ministry of Energy, the subsidy programme has significantly boosted demand for electric vehicles. In 2023 a record 22,000 climate-friendly cars were put into service in Hungary. The trend continued into 2024, with last month breaking the all-time record for newly registered fully electric cars. The number of exclusively electric vehicles on Hungarian roads has now exceeded 75,000.
As the subsidy deadline approaches at the end of March, Hungary’s EV market is set for further expansion, solidifying the country’s commitment to sustainable mobility.
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