Germany to reduce EV subsidies in 2023

📆 7/27/2022 10:41 AM
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Germany will reduce financial incentives to buy electric cars next year after an agreement within the governing coalition as the vehicles' growing popularity makes government subsidies unnecessary, Germany's economy ministry said on Tuesday.

Subsidies for company cars will be eliminated, with only private consumers benefiting from the scheme.

"For the forthcoming funding phase, we are placing a clear focus on climate protection and are concentrating funding on purely battery-electric vehicles," Habeck said. Sales of all-electric cars almost doubled to 328,000 in 2021 compared to the previous year, thanks in part to the scheme. There are now more than 600,000 electric-powered vehicles on German roads. Including hybrids, there are well over a million.

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