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Germany Approves Incentives for EVs, Plug-in Hybrids
The German government has approved tax breaks and purchase discounts to help bolster demand for electric and plug-in hybrid vehicles.
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The German government has approved tax breaks and purchase discounts to help bolster demand for electric and plug-in hybrid vehicles. The program cost will be split 50:50 with the country’s auto industry.
Buyers of EVs and plug-ins will receive a one-time payment of €4,000 ($4,500) and €3,000 ($3,400), respectively. EV owners also won’t have to pay a vehicle tax for 10 years (double the previous exemption), effective last Jan. 1.
The €1 billion ($1.1 billion) program includes €300 million ($339 million) in funding to build charging stations in Germany.
Germany has roughly 50,000 EVs and plug-ins in use today. The government’s ambitious goal is to raise that number to 1 million vehicles by 2020.
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