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Germany Moves Closer to Decision on EV Incentives
Germany, which has for months debated the question of using government incentives to bolster demand for electric vehicles, appears to be moving closer to an answer, Bloomberg News reports.
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Germany, which has for months debated the question of using government incentives to bolster demand for electric vehicles, appears to be moving closer to an answer, Bloomberg News reports.
Chancellor Angela Merkel has set a goal of putting 1 million EVs on the road in Germany by 2020. But so far only about 30,000 electrics have been sold in the country. Earlier today she commented that hiking EV sales could be “extremely important” for the country’s carmakers and job market.
Vice Chancellor Sigmar Gabriel favors a combination of government and carmaker incentives worth €5,000 ($6,000) per EV to promote sales. But Finance Minister Wolfgang Schaeuble prefers that manufacturers fund the entire plan.
Merkel likens the shared incentives scheme to a form of social welfare that would benefit German citizens. Opponents insist the country’s domestic carmakers, which are enjoying record profits, shouldn’t receive government aid to further boost their sales.
Gabriel says the government hopes to reach agreement by the end of March.
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