Wealthy French Overcharged For EVs
The French government plans to slow EV adoption as if demand for EVs had not already slowed enough in Europe. The “wealthiest half” of French citizens who plan to buy EVs will find incentives will be cut in half, a reduction of about $1,000. This has to include some middle-class consumers unless the population of France is made up primarily of millionaires.
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The French government cares very little about the climate crisis. It will cut another program, which has probably cost it money, but not much. According to Bloomberg, “The decree also confirmed plans to suspend a subsidized electric vehicle leasing program. Government officials briefing reporters on the decisions said 50,000 requests were submitted for the plan, while the government had budgeted for 20,000.”
Slowing sales of EVs has already started, so this decision by the government is a chance to damage the industry further. According to Reuters, “…EV sales in Germany and France fell around 50% in January versus December after Germany scrapped its subsidies and France tightened requirements for its subsidies.”
Government efforts to help the EV industry are also in trouble in the US. According to The New York Times, “Instead of essentially requiring automakers to rapidly ramp up sales of electric vehicles over the next few years, the administration would give car manufacturers more time, with a sharp increase in sales not required until after 2030…” Manufactures will lose the impetus to “go green.”
Based on recent data, the large nation where EV adoption is strong is China; most of the rest of the developed world seems willing to give up, at least as far as governments are concerned.
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