German Cabinet Approves EV Tax Incentives Amid Volkswagen Woes
Scholz’s ruling coalition last year abolished some purchase incentives for electric vehicles.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
German Chancellor Olaf Scholz’s cabinet approved additional tax incentives for company fleets of electric cars only days after Volkswagen AG threatened to close factories in Europe’s biggest economy for the first time.
The tax breaks, part of a wider package designed to lift sluggish growth agreed on in July, will be worth about €465 million ($514 million) on average annually between 2024 and 2028, according to a briefing paper distributed by the government in Berlin.