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France Cuts Electric Vehicle Bonus For Wealthiest Households
- Decree reduces maximum bonus by $1,000 for richest 50%
- Government also confirms to suspend EV leasing program
Renault Kangoo E-Tech EV.
Source: Renault
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The French government reduced electric vehicle subsidies it grants to the wealthiest half of the population and suspended a state-financed leasing plan as it seeks to avoid overspending and tries to target support to the middle class.
A decree published Tuesday reduces the maximum €5,000 ($5,386) bonus by €1,000 for the top 50% of households based on wealth. For businesses, aid was abolished for car purchases and reduced by €1,000 for commercial vehicles.