TECH - Volkswagen Pledges To Cover EV Subsidy In Wake Of Government Funding Cut | Benzinga
In response to the abrupt termination of a state-backed electric vehicle (EV) subsidy program, German automaker Volkswagen AG (OTC:VWAGY) has committed to providing the subsidy for customers in Germany who have ordered from its all-electric ID. series.
As reported by Reuters, Volkswagen revealed on Tuesday that their commitment applies to German private customers who had ordered an eligible EV from the ID. series before Dec. 15. Customers who register their vehicle within the year will be granted the full subsidy of up to €6,750 ($7,386). For vehicles registered between Jan. 1 and Mar. 31, the subsidy will amount to €4,500 ($4,924.82).
This corresponds to the reduced subsidy offered by the state program before its early termination as part of a revised 2024 budget.
“We see it as our responsibility to support the system change towards electromobility,” stated Imelda Labbé, Board Member ...