The German car industry will receive billions of euros in extra state aid to withstand the coronacrisis and invest in electric cars, and the Berlin government has decided, among other things, to extend certain subsidies for the purchase of electric cars. There are also regulations to replace obsolete lorries.

“We are all aware that industry is going through a difficult phase that is affecting hundreds of thousands of jobs,” said Minister for Economic Affairs, Peter Altmaier. In combination with previous aid, the industry can now count on some EUR 5 billion. It is not only car manufacturers such as Volkswagen and BMW who benefit from this, but also the many suppliers of the car industry who are supported by the money.

Car manufacturers are going through a very difficult time this year. Previously, showrooms had to close temporarily in many countries due to lock-down measures and in October sales of new passenger cars in the European Union fell again under pressure from reintroducing restrictions to contain the spread of the virus.

Load More Related Articles
Load More In Business

Leave a Reply

Your email address will not be published.

Check Also

ProSchweiz collects signatures to make Switzerland neutral again

Swiss activist and have started this week to collect signatures for a referendum on the ne…