Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Agricultural Development Bank of China
dpa

HOME > dpa

Subsidy leads Germans to buy more electric and hybrid cars

August 05, 2020


Abstract : Applications for a subsidy for electric cars paid out by the German state reached a new high of almost 20,000 for the month of July, the Economy Ministry reported on Monday.

The symbol for the battery charge of a hydrogen-electric hybrid. (picture alliance / dpa)

Applications for a subsidy for electric cars paid out by the German state reached a new high of almost 20,000 for the month of July, the Economy Ministry reported on Monday.

There were 19,993 applications for the so-called "innovation premium," covering both fully electric and hybrid drive trains, for the month, the highest level since the premium was introduced in 2016.

"The innovation premium is taking effect and driving electric mobility forward in Germany," Economy Minister Peter Altmaier said.

Since the start of the year, 69,606 applications for the subsidy had been made up to the end of July, a rise of 78.6 per cent on the year, the ministry reported.

The German government has increased the subsidy as part of its package to counter the economic effects of the novel coronavirus pandemic. Previously the federal authorities and the states shared the cost of the subsidy, but the federal authorities have now doubled their share.

Altmaier expressed satisfaction that the increase, which will be in place up to the end of 2021, had provided a boost to the economy at the right time.

Purely electric cars are being subsidized to the amount of up to 9,000 euros (10,500 dollars). Hybrids can receive up to 6,750 euros - a policy that has come in for criticism from environmentalists, as there is no guarantee owners will make use of the electric power train.

Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.

Scan the QR code and push it to your mobile phone

Keyword: Germany electric and hybrid cars

Reading:

China sees steep drop of net financing via debenture bond issues in July

China to accelerate building Tianjin into international shipping hub in the north

BeiDou Navigation Satellite System plus 5G technology to generate new economic growth points: official

China completes field calibration test of ocean observation satellites

E. China's Anhui to construct 31 new expressways

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial