That much subsidy will be released next week for EV buyers in 2024

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Discover the 2024 EV buyers subsidy release next week! Explore how much you could save on your electric dream ride.

Are you considering purchasing a new electric car in 2024? If so, you may be eligible for the SEPP, an electric vehicle (EV) subsidy designed for both car buyers and potential lessees.

It’s important to note that currently, applications cannot be submitted. However, starting on Tuesday, January 9, the government will unveil the subsidy pot, allocating 58 million euros for the year.

The SEPP, or Subsidy Scheme for Electric Passenger Cars for Private Individuals, was introduced in the summer of 2020 to assist those hesitant due to high EV prices. Originally, the plan was to gradually decrease the subsidy amount. For instance, it reduced from 4,000 euros in 2020 to 2,950 euros last year. Despite this, the subsidy pot for new electric cars in 2023 was still one-third full by the end of December, reflecting disappointing new EV sales.

In response to this, the decision was made to maintain the SEPP amount at 2,950 euros for new EVs in 2024, rather than reducing it to 2,550 euros as initially planned. Meanwhile, the Dutch government’s imposition of substantial road tax on electric car owners from 2026 may deter potential buyers, contradicting its green ideals.

Interestingly, sales of used EVs are on the rise. The 32.4 million euros allocated for SEPP for used electric cars in 2023 were fully utilized, surpassing the subsidy for new EVs. In 2024, a 2,000-euro subsidy will continue to be available for used EVs, though the total amount is slightly reduced to 29.4 million euros.

To qualify for SEPP, new electric cars must meet specific criteria, including being originally delivered as an EV (no conversion projects), having a WLTP range of at least 120 kilometers, and a maximum cost of 45,000 euros. Used cars should have cost between 12,000 and 45,000 euros when new, and the electric car must remain registered in your name for at least 3 years.

Application processing will resume on January 9, and the subsidy pot for electric cars will close on December 27, 2024, at 12 noon. The question remains whether it will be depleted by then.

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