Germany to expand incentives for electric cars

Tuesday, 05. November 2019 11:34

During a car summit held last night, chaired by Chancellor Angela Merkel and participated in by representatives of leading automakers, Germany agreed to expand electric cars incentives and boost the number of charging stations across the country in a bid to increase the number of electric and hybrid vehicles.

The move comes amid a concern that the European Union's largest economy is lagging behind competitors in this area.

The subsidy program, whose costs will be borne together by the government and industry, will include 650,000-700,000 vehicles and will be divided into two categories. The one-off payment for cars costing up to €40,000 will be raised from €4,000 to €6,000, while the buyers of electric vehicles costing over €40,000 will be receiving incentives of €5,000. Subsidies for hybrid cars are yet to be determined.

Related Links: BMW AGDaimler AGVolkswagen AG
Author:
Breaking the News / GG