From 2023, Germany reduces the subsidies granted to those who want

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Germany will reduce financial subsidies for those who want to buy electric cars in 2023, according to an agreement within the coalition government, because the popularity of electric vehicles has grown so much that it makes the subsidies unnecessary, the German economy ministry said on Tuesday, reports Reuters. according to RADOR.

The premiums, as they are called, paid for buyers of electric cars will expire completely once the total amount of 3.4 billion euros, allocated in the budget for the next two years, will be spent, government sources said.

“Electric cars have become more and more popular and there will be no need for government subsidies anymore,”

said the German Minister of Economy, Robert Habeck.

According to the new plan, the premiums for fully electric vehicles with prices below 40,000 euros will drop to 4,500 euros at the beginning of next year, compared to 6,000 euros at present, and will reach 3,000 euros at the beginning of 2024.

For cars with prices over 40,000 euros, premiums will drop to 3,000 euros at the beginning of 2023, compared to 5,000 euros at present.

There are no subsidies granted for cars over 65,000 euros, and starting from 2024 they will no longer be granted for cars with prices over 45,000 euros. Subsidies granted to car manufacturing companies will be eliminated.