Russia to Offer Preferential Loans for Electric Vehicle Charging Hub Projects

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The Russian government has prepared a program to support investors implementing projects for the creation of electric vehicle charging hubs using direct current. These investors will be offered state-subsidized preferential loans.

Investors will be offered loans at a preferential interest rate of 8% per annum. The maximum loan term will be 5 years. The funds can be used to purchase or lease land, purchase necessary equipment, and install and connect the charging hub to the power grid. Charging hubs capable of servicing at least 10 electric vehicles simultaneously can be located both within city limits and along highways.