65% Of Electric Cars Sold In France Can Quality For State Bonus Scheme
Portfolio Pulse from Charles Gross
According to Reuters citing ACEA, 65% of electric cars sold in France are eligible for the country's state bonus scheme. This incentive is expected to boost the electric vehicle market in France in 2024.
December 14, 2023 | 10:11 am
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POSITIVE IMPACT
The iShares MSCI France ETF (EWQ) could see a positive impact as the French EV market is expected to grow due to the state bonus scheme.
The state bonus scheme for electric vehicles in France is likely to stimulate the automotive sector, which is a significant component of the French economy. As EWQ tracks a broad range of French equities, positive developments in the automotive industry could lead to increased investor confidence in the ETF.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Tesla, Inc. (TSLA) may benefit from the French state bonus scheme, as it could increase demand for Tesla's electric vehicles in France.
Tesla's presence in the European electric vehicle market means that any incentives that promote EV adoption, like France's state bonus scheme, could lead to higher sales for Tesla. This could have a positive short-term impact on TSLA's stock price as the market anticipates increased demand.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Volkswagen AG (VLKAF) stands to benefit from the French state bonus scheme for electric vehicles, potentially increasing its sales in the region.
As a major player in the European automotive market, Volkswagen is likely to see an increase in demand for its electric vehicles in France due to the state bonus scheme. This could positively influence VLKAF's stock in the short term as the market responds to potential revenue growth from increased EV sales.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80