I'm currently working right next door to Porsche's head office and I can see, looking through the top floor windows, a huge party going on!GTB wrote: ↑Tue Dec 19, 2023 5:45 pm Afternoon All,
This dropped into one of my own industry news alerts this afternoon!
"Germany’s government announced a premature end to its electric vehicle (EV) subsidy program.
After adopting a revised 2024 budget last week, the authorities decided to end this initiative on Monday, Reuters reported. The Economics Ministry specified that the decision came after spending approximately €10 billion since 2016, which translates into 2.1 million EVs currently traversing German roads.
The budget constraints became official following a ruling by the country’s constitutional court to reduce spending by €60 billion euros. This forced the state to limit energy transition initiatives, including the EV subsidy, which was originally intended to apply until the end of 2024.
The initiative allowed German citizens to qualify for an EV subsidy based on the date of the vehicle’s registration. However, since registration can only occur after the vehicle is delivered, individuals acquiring an EV since January would be ineligible for the subsidy.
This also represents a major blow to the German mobility industry, as local manufacturers have been struggling with the transition into e-mobility. Although authorities targeted 15 million EVs on German roads by 2030, achieving this goal may be jeopardized due to budget constraints.
"This goal was already considered extremely unrealistic. Now it seems completely illusory," said Ferdinand Dudenhoeffer, Analyst at the Center for Automotive Research, in an interview with the Rheinische Post newspaper.
Despite this , some manufacturers such as Volkswagen (VW) and Stellantis have already announced they will take over the government's shares of EV subsidies for specific models, such as VW’s ID.""
Cheers GTB.
They all seem to be... wait a minute... yes, they're all dancing the conga around a 911 on a turntable in the middle of the executive suite!
It may be a Christmas coincidence, or maybe they just cancelled all EV production?
