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Germany Debuts €1.2 Billion Incentive Plan for Electrics
The German government and domestic carmakers have launched a €1.2 billion ($1.4 billion) joint plan to bolster demand for electrified vehicles.
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The German government and domestic carmakers have launched a €1.2 billion ($1.4 billion) joint plan to bolster demand for electrified vehicles.
The program will pay retail buyers €3,000 for plug-in hybrids and €4,000 for pure electric vehicles. The offer applies to cars priced at €60,000 ($67,900) or less..
The incentives will be funded 50:50 by the government and manufacturers. The German government also has pledged to spend €300 million ($340 million) on infrastructure, including the installation of 15,000 new charging stations in the country over the next three years.
The deal hopes to hike the number of electrified vehicles on German roads from roughly 50,000 today to 500,000 by an unspecified date. The government has quietly abandoned as unrealistic a previous goal to putting 1 million EVs and plug-ins into service by 2020.
Today’s deal caps months of dithering about how to encourage sales of “green” vehicles in Germany, where the auto industry has long favored diesels to help lower emission averages.
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