Germany Accelerates Electric Car Adoption with Subsidies

Germany expands its subsidy program to include electric cars with range extenders, offering financial incentives from €1,500 to €6,000. The €3 billion initiative aims to boost sales and support up to 800,000 vehicles by 2029, welcoming competition without geographical restrictions.

Germany is set to boost electric car sales by including vehicles with range extenders in its subsidy scheme. Aimed at assisting small- and medium-income households, the government will offer financial incentives ranging from €1,500 to €6,000 per car purchase, according to the environment ministry's announcement on Monday.

This €3 billion scheme, prepared to cover 800,000 subsidized vehicles until 2029, will accept applications retroactively from January 1. The program is inclusive of imported cars, even those from major competitors like China, as Germany embraces the competitive auto market.

During a press conference, Environment Minister Carsten Schneider expressed confidence in German carmakers' product offerings, emphasizing no imposed limits on competitors. The government initiative, outlined by Bild newspaper, marks a strategic effort to revitalize one of Germany's essential industries.

(With inputs from agencies.)