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Germany Ponders Extending EV Incentives
German ministries are reviewing a proposal by the economy ministry to continue subsidies for buyers of electric cars through the end of 2020.
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German ministries are reviewing a proposal by the economy ministry to continue subsidies for buyers of electric cars through the end of 2020.
The current program, launched in mid-2016, is scheduled to end in June. The program, which is co-funded by government and carmakers, offers EV buyers incentives worth €4,000 ($4,500).
The €1.2 billion ($1.3 billion) program has spent only about half the available funds, according to Reuters. The news service says the payouts have helped boost EV sales in Germany. But it says such models accounted for only about 1% of the 3.44 million passenger vehicles sold in the country last year.
German carmakers have enthusiastically embraced electrification to meet carbon dioxide emission limits following the collapse in the diesel market. Demand for diesels has plummeted since Volkswagen AG’s diesel emission cheating scandal began in 2015.
But carmakers are growing increasingly uneasy about the reluctance of consumers to consider EVs.
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