Germany earmarks 500 million euros for electric car charging: Sources

Germany aims to install about one million public EV charging spots by 2030, up from 27,730 currently.The economy ministry also suggested spending an extra 1.5 billion euros on supporting domestic battery cell production, which would more than double existing funds for that purpose, as per sources.
By : Reuters
| Updated on: 10 Jun 2020, 10:07 AM
An electric vehicle e-Station charging unit stands outside the Volkswagen AG factory in Dresden, Germany. (Bloomberg)
An electric vehicle e-Station charging unit stands outside the Volkswagen AG factory in Dresden, Germany. (Bloomberg)
An electric vehicle e-Station charging unit stands outside the Volkswagen AG factory in Dresden, Germany. (Bloomberg)
An electric vehicle e-Station charging unit stands outside the Volkswagen AG factory in Dresden, Germany.

The German economy ministry wants to earmark 500 million euros ($567 million) from Berlin's bumper stimulus package to support the roll-out of charging stations for electric cars, two government sources told Reuters on Tuesday.

The sum, part of 2.5 billion euros specifically aimed at expanding electric vehicle infrastructure, will be targeted at private users, including households and builders, the sources said.

Berlin aims to install about one million public charging spots by 2030, up from 27,730 currently, a key step in addressing consumers' concerns about the driving range of battery-powered cars, which so far account for just 0.6% of vehicles on German roads.

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(Also read: How German auto stimulus powers electric cars, may penalise SUVs on fossil fuels)

It also addresses criticism from utility companies, including E.ON, which have called for support to households in addition to incentives for public chargers, which are 40-50% subsidised.

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The ministry also suggested spending an extra 1.5 billion euros on supporting domestic battery cell production, which would more than double existing funds for that purpose, the sources said.

(Also read: Towards a green path: Tesla wouldn’t be Tesla without stimulus spending)

The remaining 500 million euros of the overall 2.5 billion euros should be earmarked for research and development, the sources added.

First Published Date: 10 Jun 2020, 10:07 AM IST
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