$1.4 Billion incentive to go Electric Auto in Germany

[G. David Felt]

G. David Felt
Staff Writer Alternative Energy - www.CheersandGears.com

 

$1.4 Billion incentive to go Electric Auto in Germany

 

 

According to CNN Money, Germany's government has joined forces with Daimler, Volkswagen and BMW to offer up to $1.2 Billion Euros ($1.4 Billion US) as rebates to purchase electric auto's. $4,000 euros ($4,500 US) for pure EVs and $3,000 euros ($3,400 US) for Plug-in Hybrids in today's conversion of currency.

 

Germany has announced that they are also inviting all US and Asian auto companies to take part in this rebate program to sell electric based auto's.

 

Germany lags behind the U.K, France, Italy and Spain in electric auto sales. Currently around 50,000 EVs are on the roads in germany. This program is designed to get 400,000 electric auto sales in the near future with the goal of 1 million on the roads by 2020 and 5 million by 2030 in Germany. Experts have warned that these targets are not reachable. Yet Germany has pointed to GM and Tesla with the BOLT/VOLT and Tesla 3 as examples. This program is only available on autos costing $60,000 euros or less. This is where the German auto companies have to drive efficiency to get their basic EV below this price point.

 

Currently German Auto companies are struggling to compete with foreign rivals in the electic car market and the German government has committed an additional $300 million euros to electrify the country's highway system for charging saying they will have 15,000 charging stations installed for quick charging in the next 36 months. Germany has also committed $100 million to ensure 20% of all government auto's are electric.