German Chancellor, Angela Merkel reached a deal with automakers to spend $1.4 billion jointly on incentives to boost electric-car sales.
In early February, the chief executives of Germany’s leading auto companies and senior cabinet ministers in Merkel ’s government failed to reach a deal to promote electric vehicles.
The proposal was to build thousands of new electric-vehicle charging stations throughout the country and provide public incentives to put electric vehicles on the road by 2020.
At that time, a government spokesman said, “We are engaged in good talks over how we can further promote electric mobility in Germany in addition to the comprehensive measures that are already in place.”
Well, things improved last Wednesday and beginning as early as next month the public can start to receive as much as 4,000 euros in rebates to help offset the higher price of an electric vehicle. “The goal is to move forward as quickly as possible on electric vehicles,” said Finance Minister Wolfgang Schaeuble at a press conference. Purchasers of hybrid cars will get as much as 3,000 euros off the price.
The deal is still pending approval from the German parliament’s budget committee.
At the end of 2015, there were only around 25,000 electric vehicles registered in Germany.