Uptake on Sweden’s 25% electric bike subsidy likely to mean early closure

Almost exactly echoing a similar headline published earlier this week, Sweden is now well ahead of anticipated outlay on its electric bike subsidy scheme, potentially forcing an early closure.

Though it has a wintry climate for much of the year, Sweden pushed live its 25% subsidy scheme on electric bikes and motorcycles in February. Now, just a few months later, the annual pot is 40% allocated well ahead of expectations.

Allowing buyers to claim 10,000 Krona (about €1,000) against purchases made since September of last year, the legislation is planned to run until 2020. A tide of 2,000 applications per week  to Sweden’s Environmental Protection Agency may now call time on the scheme early, according to Expressen.se.

A pot of around €34 euro or 350 million Krona was allotted for this year’s incentive. 137 million Krona is thus far spent.

According to local news, those who miss this year’s subsidy will be added to the queue to potentially benefit next year. This, however, is not guaranteed as Sweden soon has Parliamentary elections which could call time on the incentive.

According to industry org Svensk Cykling, sales grew 50% in 2017 to reach 67,500 electric bikes sold.