Germany Providing Over $1B for Plug-In Vehicle Subsidies, Infrastructure

Posted by Lauren Tyler on April 27, 2016 No Comments
Categories : New & Noteworthy

Representatives of the German federal government have committed to providing approximately $1.2 billion for subsidies for plug-in vehicles and the associated charging infrastructure, beginning next month, according to Germany’s Federal Ministry of Transport and Digital Infrastructure.

Per this commitment, electric car buyers will receive a $4,500 subsidy and plug-in buyers will receive a $3,400 subsidy. The Federal Ministry notes that the government will provide half of the total funding on the condition that the automakers provide the other half, for a total funding limit of $1.4 billion and a term that expires no later than 2019.

The ceiling for each base model is approximately $68,000 net/list price.

To improve the charging infrastructure, the government says it is making $340 million available between 2017-2020. Approximately $226 million of that will be used for fast charging infrastructure, and approximately $113 million will be used for standard charging.

The representatives also say it will provide approximately $113 million to procure additional electric vehicles (EVs), as it aims to have a fleet containing at least 20% EVs.

Germany currently has a goal of 1 million EVs on the road by 2020.

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