The German car industry will receive billions of euros in additional government support to weather the crisis and invest in electric cars.
Among other things, the government in Berlin has decided to extend certain subsidies for the purchase of electric cars. There are also schemes for replacing obsolete trucks.
“We are all aware that the industry is going through a difficult phase affecting hundreds of thousands of jobs,” said Economy Minister Peter Altmaier. In combination with earlier support, the industry can now count on around € 5 billion. Not only car manufacturers such as Volkswagen and BMW benefit from this, the countless suppliers also get a helping hand from the money.
Car manufacturers are going through a very difficult period this year. Previously, showrooms in many countries had to be temporarily closed due to lockdown measures, and sales of new passenger cars in the European Union fell again in October, due to the reintroduction of restrictions to contain the spread of the corona virus.