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Germany to end e-vehicle subsidy programme

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Germany to end e-vehicle subsidy programme By Reuters

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Published Dec 16, 2023 13:37

© Reuters. German carmaker Volkswagen presents its new ID. 2all model, an electric vehicle that costs less than 25,000 euros, in Hamburg, Germany, March 15, 2023. REUTERS/Fabian Bimmer/File Photo

BERLIN (Reuters) – Germany’s electrical vehicle subsidy programme will end prematurely on Monday after paying out some 10 billion euros since 2016, the Economics Ministry said, the latest sign of belt-tightening following the adoption of a revised 2024 budget this week.

The new budget had to be slimmed down after a ruling by Germany’s constitutional court that blew a 60 billion euro ($65.36 billion) in the country’s state budget and forced the government to shelve some programmes designed to speed up Germany’s green transition.

The e-car subsidy was originally intended to apply until the end of 2024. Subsidies already applied for will be paid out but no new applicants will be accepted from Monday.

Germany’s car industry has been expanding its range of electric vehicles after China and the U.S. stole a march on German manufacturers in the fast-growing industry.

($1 = 0.9179 euros)

Germany to end e-vehicle subsidy programme

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