Business news from Ukraine

Ukraine at the end of the first quarter or beginning of the second quarter of 2022 will launch a program to subsidize the interest rate for leasing electric vehicles, Deputy Head of the Office of the President of Ukraine Rostyslav Shurma has said.”In Germany, France, Italy, 70% of car purchases are leasing at a cost of 0.5-1.5%. We have 12%, 15%, 17%. In four years, a person pays the cost of a car twice. Here we will launch the same program [subsidizing the interest rate], but not with all cars, but with electric vehicles. This will stimulate a “green” transformation in the country,” Shurma said in an exclusive interview with Interfax-Ukraine.Asked when the Ukrainian electric car will appear in this program, Shurma said that for the first time it will be assistance to citizens, and not to own production, which is not yet available in Ukraine, but in two years it can be extended to manufacturers who are localized production in Ukraine.”I know this industry well, in addition, we consulted with automakers. It takes two years to localize the production of electric vehicles. This program will operate in a universal form for two years, and then will extend to manufacturers who have localized production. We send such a signal to the market: if you want to keep your product competitive not only now, but also in two years, do localization,” he said.