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Automotive industry

Electric Vehicle Adoption Rises in Cyprus Amid EU Investment in EV Charging Network

Strategic Insights

— 2 min read

The registration of hybrid and electric vehicles in Cyprus experienced a robust rise in the first eight months of 2025, with the share of electric cars increasing to 4.8% from 3.3% in the same period last year. Hybrid vehicles saw an even sharper rise, climbing to 43.6% from 36.8% in January-August 2024. This growth comes as the share of petrol-powered passenger cars fell to 43.2% from 50.1% and diesel-powered cars declined to 8.5% from 9.9%. The European Investment Bank (EIB) has also announced its support for the expansion of the electric vehicle charging network in Greece and Cyprus, providing financing of up to £17.5 million to Greek company Joltie SA to install approximately 2,200 new charging points by 2029.

Key Takeaways:

  • The share of electric cars in Cyprus increased to 4.8% in January-August 2025 from 3.3% in the same period last year.
  • Hybrid vehicles rose to 43.6% from 36.8% in January-August 2024 during the same period.
  • Petrol-powered passenger cars fell to 43.2% from 50.1%, while diesel-powered cars declined to 8.5% from 9.9%.
  • Passenger saloon cars showed a marginal increase to 26,961 from 26,902 in January-August 2024, representing a rise of 0.2%.
  • Rental passenger cars recorded a sharp increase of 27.2% to 4,044 units.
  • Goods conveyance vehicles recorded a 2.0% increase to 3,935, while heavy goods vehicles fell by 1.1% to 458.
  • Registrations of mopeds under 50cc declined sharply to 155 from 535 in the corresponding period last year.
  • Motorcycles over 50cc experienced strong growth, increasing by 22.2% to 3,094 compared to 2,532 in January-August 2024.
  • The European Investment Bank (EIB) will provide financing of up to £17.5 million to Greek company Joltie SA to expand the electric vehicle charging network in Greece and Cyprus.
  • The EIB's investment aims to accelerate the transition to sustainable mobility, helping to decarbonize road transport and reduce greenhouse gas emissions.

Statistics:

  • 4,044 rental passenger cars recorded a 27.2% increase.
  • 3,935 goods conveyance vehicles recorded a 2.0% increase.
  • 155 mopeds under 50cc registrations declined sharply.
  • 3,094 motorcycles over 50cc registrations experienced a 22.2% increase.
  • 2,200 new charging points are expected to be installed by 2029.
  • £17.5 million in financing will be provided by the EIB to Joltie SA.
  • 0.2% increase in passenger saloon cars registrations.
  • 1.1% decrease in heavy goods vehicles.

Sources:

  • "State Statistical Service of Cyprus" - report released on Monday, August 26, 2025.
  • European Investment Bank (EIB) - announcement dated Monday, August 26, 2025.

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