Germany’s Abrupt End to EV Subsidies Hits Tesla, Other Automakers
Tesla and a slew of automakers recently suffered a major blow in the European market after the German government abruptly ended the country’s electric-vehicle subsidies. With the German coalition government facing an increasingly dire budget crisis, government officials announced the end of the “environmental bonus” program several weeks earlier than planned. Like several other nations, Germany plans on electrifying its transport network to cut down greenhouse emissions and mitigate climate change. However, electric vehicles are so expensive that the majority of consumers cannot afford to purchase them outright, especially without the aid of government subsidies and incentives. The German government…
