1 Million Electric Vehicles on German Roads by 2020
June 14, 2016
On April 27, 2016, Finance Minister Wolfgang Schäuble announced that Germans who buy an electric car would receive a 4,000-euro subsidy and those who buy petrol-electric hybrids would receive a 2,000-euro subsidy. Fifty percent of the subsidy would be financed by the German government, while the car industry would finance the other half. The subsidies are part of a 1.2 billion euro package to bring e-cars to German roads, and those who purchase vehicles first will benefit from it. The subsidies will be granted to e-car buyers until 2019, Minister Schäuble announced at a press conference. In addition, the German government will invest 300 million euros between 2017 and 2020 to increase the number of charging stations in Germany by 15,000. Economic Minister Sigmar Gabriel said the new plan should bring the number of e-cars in Germany to at least 500,000, which would make Germany a much larger market for electric vehicles.
“The government has put in place the right steps to give e-mobility a boost in Germany, which the country needs to catch up if it’s to become a leading market for e-cars,” Matthias Wissmann, president of the German car-manufacturers’ association, or VDA, told Bloomberg News.
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