Germany will invest 2 billion euros in electric cars

The German auto industry after the Volkswagen affair is now experiencing a serious crisis that could hit the industry. In order to obliterate the bad impression, the government is going to put on electric vehicle production and plans to invest more than 2 billion euros in this sector in the near future.

It can not be denied that Volkswagen’s fraudulent emissions tests, which the company has known for 10 years, have had a serious impact both on the company itself and on the German automotive industry. The gigantic penalties that the company has to pay for in the US market and the tainted image in the long run will undoubtedly have a negative effect on the sale of VW cars on the mask.

The company’s problems also have a huge impact on Germany’s economy, so the government has decided that it will be a bailout for electric vehicles. Germany wants to drive at least one million cars by 2020, so they plan to invest € 2 billion in this market segment.

Finance Minister Sigmar Gabriel revealed that the auto industry would be paid in several different ways. The first will be government grants, which may include people planning to purchase an electric vehicle. It is not known exactly what the amount will be, but probably about the same as what other countries offer, so around 3-4 thousand euros.

Part of the quota will also be invested in the construction of new battery charging stations so that the driver has no problems with replenishing the battery power of his vehicle. Probably also will be supported by the industry itself, which will receive money for work on the improvement of electric car technology.

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