Germany Readies Tax Break for EVs
Germany is preparing a plan to waive vehicle taxes for 10 years on electric cars in a bid to bolster demand for electrified vehicles, according to Reuters, which cites a draft document that describes the program.
The government has been dithering for months over its proper role in achieving its goal of putting 1 million electrics on the road by 2020. The country’s EV fleet currently numbers about 30,000 cars.
The proposed scheme would absolve buyers from paying vehicle taxes for 10 years if they buy an EV before 2020. The plan also would require carmakers to help develop Germany’s recharging infrastructure, stimulate demand through advertising and help strengthen the country’s EV battery manufacturing capabilities.
Reuters says Chancellor Angela Merkel’s coalition could approve the plan today and submit it for parliament approval. The draft document says a separate program may be finalized by the end of April what would offer cash incentives to purchasers. Previous reports suggested sales incentives would entail joint contributions by carmakers and the government.
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