$1.7 Billion Subsidy To Boost Electric Car Sales
Germany to give 1 billion Euro subsidy to boost electric car sales
Electric car buyers will receive €4,000 when they choose a purely electric vehicle and €3,000 for a plug-in hybrid.
Buyers of electric cars in Germany are to receive a subsidy of up to 4,000 euros. Photograph: Jan Woitas/EPA
Germany will subsidise electric car purchases to give a jolt to sluggish growth in the sector and help meet national climate goals with zero-emission mobility, the government said Wednesday.
Car buyers will receive €4,000 ($4,500) when they choose a purely electric vehicle and €3,000 for a plug-in hybrid, with the cost shared 50-50 between the public purse and car makers.
The program starting next month aims to help Germany approach its goal of putting one million electric cars on the road by 2020 – up from around 50,000 now out of Germany’s 45 million cars.
So far, German auto giants Volkswagen, Daimler and BMW have signed up to it, but the program is open to all national and foreign brands.