Mexican Media Brands
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.
#hybrid #economics
Share
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.
RELATED CONTENT
-
Aluminum Sheet for EV Battery Enclosure
As the number of electric vehicles (EVs) is about to increase almost exponentially, aluminum supplier Novelis is preparing to provide customers with protective solutions
-
On Ford Maverick, Toyota Tundra Hybrid, and GM's Factory Footprint
GM is transforming its approach to the auto market—and its factories. Ford builds a small truck for the urban market. Toyota builds a full-size pickup and uses a hybrid instead of a diesel. And Faurecia thinks that hydrogen is where the industry is going.
-
GAC, CATL Partner on Two Battery Ventures
Two new battery ventures are being formed in China by domestic carmaker Guangzhou Automobile Group Ltd. and battery giant Contemporary Amperex Technology Ltd.