€2bn boost for electric car market

The German government is considering a €2bn investment in electric car incentives and development.

It’s been reported in German newspaper Die Zeit that the money would go towards subsidies for the purchase of electric cars. The government will also call for more public charge stations and greater use of electric cars by federal offices.

The newspaper reports that German Economy Minister Sigmar Gabriel said the initiative would be funded by monies from the existing budget and would not require tax increases.

Germany has targeted a million electric cars on its roads by 2020. Only 20,000 units were sold in the country in 2014

German automakers BMW, Volkswagen, Porsche, Audi and Mercedes are planning to bring electric cars to market.