In the United States, the purchase of an EV is usually accompanied by a big discount funded by the government. In the early days of EVs, this was especially helpful, as it combated the high price of the new technology. Thanks the growing popularity of EVs and hybrids, the prices are finally starting to come down to make green technology more appealing and affordable. Germany wants to spur flagging EV interest in the country, and has decided to introduce a subsidy of its own.
When a customer purchases an electric vehicle, they will receive €4,000 towards their purchase. If they decide that a hybrid is more in step with their lifestyle, customers will receive €3,000. While helping EV sales grow is good for the planet, Germany also needs hybrids and electric car sales to expand so they reach their national goals for controlling emissions, as well as a goal to put a million EVs on German roads by 2020.
Half of the program’s funding will come from the German government, and the other half will come from automakers. According to The Guardian, the program will begin in May, but it will only continue as long as the money lasts. The €600 million budgeted by the government should cover 400,000 EV sales, and the government is urging interested shoppers to act quickly to ensure they receive their subsidy.
German shoppers have about 30 electric car models to choose from, including vehicles in the BMW i Series. Shoppers should be aware, though, that a vehicle must be priced lower than €60,000 to qualify (sorry Tesla).
News Source: The Guardian
The News Wheel is a digital auto magazine providing readers with a fresh perspective on the latest car news. We’re located in the heart of America (Dayton, Ohio) and our goal is to deliver an entertaining and informative perspective on what’s trending in the automotive world. See more articles from The News Wheel.