5 Signs that Ukraine Enters the Era of Electric Cars

Taking into account the global concern for the environment and the trend to reduce carbon emissions, Ukraine does not stand aside and actively strives for transformation.

One of the fastest-growing business sectors is the adoption of electric vehicles technology.

The Ukrainian company, business consultant GT Invest, predicts the development of the industry and high profitability of projects using this technology.

Letโ€™s see how Ukraine is moving towards the era of electric cars.

1. Electric Car-sharing

Several car-sharing services have already been successfully launched in Ukraine, which offer exclusively electric vehicles.

The profitability of this business model is obvious because charging a car in Ukraine will cost you on average 10 times cheaper than refueling. Tesla’s 100km charge will cost you less than $1.

So for a short-term rental service, this is much more efficient.

2. Electric buses

Ukraine will buy electric buses for the gradual transformation of public transport

The development programm of routes and the introduction of electric buses into operation is planned for the next 2 years .

The reduction in greenhouse gas emissions will amount to 537 tons of CO2 per year.

3. The ban on the import of diesel vehicles

A ban on the import of diesel and gasoline vehicles is scheduled for 2030.

The project is designed to stimulate consumer choice in favor of electric vehicles.

A popular business in Ukraine is the resale of cars from American auctions, including electric cars, since Ukraine has a very developed network of repair services with low cost of work and spare parts.

4. Electric vehicle market

Today, 23.7 thousand electric vehicles are officially registered in Ukraine. In 3 years this number has tripled.

The infrastructure of chargers is growing as well, here are now 3 times more of them in public usage than in 2019.

And the TOP of the most popular passenger electric cars looks like this:

  • BMW i3.
  • BAIC EU5 and Tesla Model 3.
  • Porsche Taycan and Volkswagen E Lavida.
  • Mini cooper

5. No Tax on Import of electric vehicles

The abolition of VAT on the import of electric vehicles is valid until 2022.

The Ministry of Infrastructure supports the continuation of the VAT exemption on the import of electric vehicles. The ministry has also joined in the development of new building codes to facilitate the development of the electric filling station network.

The electric vehicle market in Ukraine is actively developing and promises new prospects for business and economy, and most importantly for environmental safety.

Ukrainian companies and the government are interested in the development of technologies and infrastructure that support environmental protection.

Due to the favorable geographical location of Ukraine, adequate labor costs and the availability of natural resources such as lithium, Ukraine can be an ideal arena for opening the production of electric cars.

Oleksii Prokhorenko, ะกEO of GT Invest sees big opportunities in this business sector.