Electric Vehicles in Armenia: Market is Growing, but Risks Remain

Electric vehicles have ceased to be a rarity on the streets of Yerevan: today there are 30–40 thousand electric vehicles in the country, and in 2025 about 16–18 thousand cars were imported. The main driver of growth was government quotas for duty-free imports: in 2026, Armenia received a record 15 thousand quotas from the EAEU. According to Armen Abrahamyan, head of "Ecomotors AM", interest in electric vehicles remains, and more and more people are considering them as their main car.

Infrastructure development is also gradually moving forward: charging stations are appearing in Yerevan and the regions, private businesses are investing in new charging points, and electric vehicle owners are experiencing less stress during operation. At the same time, the issue of battery disposal remains open, which, after their service life, can become a source of environmental damage. The authorities are developing a strategy for effective battery management.

The market also faces regulatory and financial problems. The distribution of quotas between individuals and legal entities causes difficulties, and the growth in the number of unscrupulous importers creates a threat to buyers: there are cases of fraud when customers lost money and companies disappeared. According to A. Abrahamyan, bona fide companies find themselves in unequal conditions compared to "garage" sellers, which hinders the development of healthy competition and a stable electric vehicle market in Armenia.