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Buyers in Europe rejoice as policymakers offer electric-car subsidies

Chancellor Angela Merkel and President Emmanuel Macron have sought to soften the coronavirus pandemic's blow to the badly hit car sector.

Electric Vehicle, EV, e-vehicles
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The state support is allowing Autohaus Koenig, a dealership chain with more than 50 locations across Germany, to advertise a lease for the battery-powered Renault Zoe that is entirely covered by subsidies. Photo: Shutterstock

Bloomberg
Car buyers in Europe can now get their hands on a brand-new electric vehicle for less than the typical cost of a mobile-phone contract. Thanks to newly generous subsidies, some are even free.

Shoppers have swarmed virtual showrooms in Germany and France — the region’s two largest passenger-car markets — after their national governments boosted electric-vehicle incentives to stimulate demand. Their purchase subsidies are now among the most favorable in the world, according to BloombergNEF.

The state support is allowing Autohaus Koenig, a dealership chain with more than 50 locations across Germany, to advertise a lease for the battery-powered Renault Zoe that

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First Published: Jul 15 2020 | 11:58 PM IST

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