Germany is ending EV subsidies by Monday

Germany is ending its electric vehicle (EV) subsidies on Monday, two weeks earlier than the original plans.

The latest decision from the German government comes after a budget crisis leading to the end of the “environmental bonus” program as of Sunday. The official timeline to end such subsidies was set for December 31.

Meanwhile, the e-car subsidy was intended to apply until the end of 2024. Subsidies already applied for will be paid out but no new applicants will be accepted from Monday.

The German EV subsidy has been up to 4,500 euros ($4,909). However, Berlin announced that this subsidy would not continue in 2024 and the federal share of 3,000 euros ($3,273) be applied.

Tesla is assuming the end-of-environmental bonus by the end of the year on its official website page but it doesn’t seem to have prepped for this new immediate change in subsidies.

With that being said, this new move would hurt the current plans of the EV giant Tesla, which is offering 0.99% loans for those who ordered by December 18 and took delivery by December 31.

Tesla notes the Environmental Bonus end in Germany via its official website

Many of these ordering under that promotion won’t receive a 4,500 euro subsidy after the announcement.

(source – Investors)