Volkswagen Pledges To Cover EV Subsidy In Wake Of Government Funding Cut
Portfolio Pulse from Benzinga Neuro
Volkswagen AG (OTC:VWAGY) has announced it will cover the EV subsidy for German customers who ordered from its all-electric ID. series before Dec. 15, after the German government cut funding. The subsidy will be up to €6,750 for vehicles registered within the year and €4,500 for those registered between Jan. 1 and Mar. 31. Stellantis also plans to fund the full subsidy until year-end, with a reduced subsidy for registrations by Feb. 29. Critics argue the subsidy cut could harm German automakers' competitiveness.
December 19, 2023 | 12:18 pm
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Volkswagen AG commits to covering EV subsidies in Germany, potentially maintaining sales momentum for its ID. series despite government cuts.
Volkswagen's decision to cover the EV subsidy could maintain consumer interest and sales in the short term, offsetting the negative impact of the government's funding cut. This move may be viewed positively by investors as it shows commitment to the EV market and could help sustain competitive pricing against U.S. and Chinese automakers.
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