Germany withdraws subsidy on Electric Vehicles
To promote the expansion of electric vehicles, Germany initiated programs of giving subsidy. But the country doesn't find an alternative but to stop the program even before its expiry. News Reuters.
According to the news, since 2016, Germany has spent about 10 billion euros under the subsidy program on electric vehicles or EVs. But before that program expires, it will be stopped from Monday (December 18), told the finance ministry of the country.
This week the country made a revised budget for 2024. Reuters reported that the removal of EV subsidies is the country's latest move to cut costs.
The German government originally intended to subsidize electric cars by the end of 2024. Those who have already applied for the subsidy will be given the subsidy. But from Monday (December 18), no new applications for subsidies will be accepted, said the German Ministry of Finance.
