Germany Relaunches Major EV Subsidy Program With Billions in Funding

Two years after abruptly ending the EV subsidies due to budget constraints, Germany is returning the incentives for buying electric vehicles with federal funds of $3.5 billion (3 billion euros) by 2029.   With the return of the incentives, Germany plans to prop up its ailing automotive sector, which has suffered a lot in recent years from surging costs, supply chain issues, and Chinese competition in EV sales.  The end of the previous EV subsidy scheme in Germany at the end of 2023 under the previous government resulted in a plunge…