The European electric vehicle (EV) market is expanding, with Hungary leading the way in Central Europe, as per a K&H Bank study. Despite this, Central Europe trails behind the EU average of 12 percent EV market share. In Q1 of 2023, 12.1% of new cars were EVs, a significant rise from 10% in the same period in 2022. Hungary’s share of new EVs rose from 4.4% to nearly 6%, outpacing Czech Republic (2.4%), Poland (3.3%), and Slovakia (1.8%). 32,000 EVs and PHEVs are on Hungarian roads, making up 0.78% of all vehicles, a higher ratio than in the Czech Republic and Slovakia. Despite higher costs, EV adoption in Hungary is promoted by free city parking, free solar electricity, and growing environmental awareness.