Cyprus

Authorise up to 90 days of diligence and a managed one-bay pilot in Nicosia with Limassol collection. Do not sign a standalone lease, sell a franchise, open traction batteries or recognise market share. Advance only if ≥2,000 supported active passenger/light VINs, two LOIs, 45 bookings, written approvals, 90 paid pilot jobs and the EUR65,000/4.0-year capital gate are evidenced.

CySTAT reports passenger electric shares of 2.7% in 2023, 4.0% in 2024 and 4.7% in 2025; multiplying rounded shares by annual passenger registrations gives approximate BEV counts only [cystat_2024] [cystat_2025]. The 6,961 plug-in stock is a separate, mixed-category registry measure [registry_stock_2024].

Electric registration shares, hybrid registration shares, plug-in stock, wider parc, stations, points, applications and targets are different measures. The report does not infer PHEVs from the hybrid category or add incompatible charging counts.

Each case compounds the 6,961-unit end-2024 mixed-category stock for six years to 2030 at 15%, 25% or 35%. These are EVS planning envelopes, not the official 85,000-vehicle policy ambition [target_85000].

An industry estimate cites about 250 operational public stations in early 2026, while EAC lists 33 stations and 62 points in its own subnetwork [charging_250] [eac_echarge]. The RRF page reports approved applications and targets, not verified installations [ec_rrf_evs].

Eurostat's 2023 fleet-age distribution puts 45.20% of passenger cars at 10–20 years and 20.74% at 20+ [eurostat_age]. Used vehicles were 64.1% of 2025 passenger registrations [cystat_2025]. Neither proves plug-in age; a VIN-level file is a capital gate.

TAM applies 85% passenger/light eligibility and 97% activity to the mixed-category 6,961 stock, then 1.25 annual events. SAM applies 75% Nicosia–Limassol concentration and 45% independent reach. Every conversion is an EVS assumption; executable SOM is zero.

Prioritise out-of-warranty/used-import owners and rental, corporate and light-commercial fleets. Warranty and recall work remains with authorised networks. PHEV propositions wait for a true powertrain/VIN split.

H1 2025 secondary counts point to Kia, Porsche, Hyundai, Dacia, BMW, Nissan, Audi and Tesla [brands_h1]. BYD's current BEV/PHEV portfolio adds a fast-changing brand mix [byd_cyprus]. Obtain the official VIN file before subscriptions or training.

Multi-city dealer groups and the new BYD Nicosia service centre are formidable [hyundai_network] [pilakoutas_network] [unicars] [cic] [byd_service]. EVS should compete on cross-brand evidence, unsupported/out-of-warranty VINs, chassis/HVAC and fleet SLAs—not warranty displacement.

Nicosia provides the best fleet, regulator and partner access. Limassol is the second commercial corridor; Larnaca and Paphos fit scheduled clinics. Famagusta recommendations are limited to government-controlled areas.

The fourth e-mobility call had a EUR5.62m budget and a 30 June 2026 registration deadline [grant_4]. Secondary reported amounts are historical call terms, not current entitlements [grant_amounts]. A successor scheme is policy upside only [target_85000].

The pilot is nominal EUR and VAT-exclusive. Standard VAT is 19%, mandatory registration generally starts at EUR15,600 taxable turnover, and enacted reform raised corporate income tax to 15% from 1 January 2026 [vat_rate] [tax_register] [cit_2026].

Natural persons need profession-specific vehicle-technician licences; the premises also need entity/tax, planning/use, electrical/utility, fire, labour, waste and insurer evidence [vehicle_tech] [planning] [eac_connection] [epr].

The general technician licensing categories do not by themselves evidence EV high-voltage competence. EVS therefore requires task authorisation, observed isolation, LOTO, live-dead-live proof, rescue drills, supported tooling and insurer/fire-approved quarantine.

Cyprus EPR covers batteries and accumulators, and EU Regulation 2023/1542 applies [epr] [batteries_reg]. Neither source identifies a case-specific traction-battery receiver. Phase 1 is non-invasive and refuses damaged-pack custody pending written acceptance.

Launch scan evidence, battery health, charging faults, 12V, cooling/HVAC, tyres/alignment/brakes and fleet preventive care. Pack opening, module repair, damaged-pack storage and unsupported programming are excluded.

EVS supplies the technical operating system, authorisation matrix, supported-VIN tooling and audits. A licensed local partner supplies premises, technicians and ordinary workshop infrastructure. Franchise fees and territory wait for paid proof.

At 360 jobs/year, EUR320 ARO and 62% gross margin, the model produces EUR17,424 annual EBITDA on EUR65,000 capex—a 3.73-year simple payback. The cautious case loses EUR26,280. These are EVS assumptions before VAT, tax, finance, depreciation and working capital.

The case can fail through mixed/stale stock, warranty capture, unsupported VINs, grant change, thin demand or unsafe battery custody. Controls are structural: partner premises, VIN-led tooling, written exclusions, deposits, lawful routes and stop-work gates.

The sequence is VIN file, partner audit, commitments, compliance, technical proof, suppliers and a paid pilot. Weekly reporting covers jobs, ARO, margin, turnaround, comeback, parts, safety and referrals.

A mixed-category stock number cannot authorise capital. Demand, paid traction, economics, compliance, technical competence, battery routing and quality must all pass. Any safety, electrical, insurer or environmental failure stops the affected scope.

The report prioritises Cyprus government, EU, regulator and operator evidence; records access dates; keeps definitions separate; labels approximate counts and EVS assumptions; and uses deterministic formulas.

The linked register records title, publisher, publication date where available, access date, URL and use note. Dynamic pages and data extracts should be archived in the diligence data room before investment.

CONDITIONAL GO for diligence and a managed Nicosia one-bay pilot with Limassol collection. HOLD a greenfield centre, franchise award, second fixed bay and all traction-pack opening/removal/custody. Executable SOM remains zero until every gate passes.