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Germany Plans $1.4 Billion In Incentives For Electric Cars

An anonymous reader shares a Bloomberg article: German Chancellor Angela Merkel’s government reached a deal with automakers to jointly spend 1.2 billion euros ($1.4 billion) on incentives to boost sluggish electric-car sales. Buyers will be able to receive as much as 4,000 euros in rebates to help offset the higher price of an electric vehicle, Finance Minister Wolfgang Schaeuble said at a press conference in Berlin. Purchasers of hybrid cars will get as much as 3,000 euros off the price. The industry will shoulder 50 percent of the cost. The program is set to start in May, pending approval from the German parliament’s budget committee, he said. “The goal is to move forward as quickly as possible on electric vehicles,” Schaeuble told reporters, adding that the aim is to begin offering the incentives next month. “With this, we are giving an impetus.”


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