German Carmakers Welcome Electric Car Support, See Challenges




HAMBURG/FRANKFURT (Reuters) – Leading German carmakers welcomed on Wednesday the government’s 3-billion-euro (2.6 billion pounds) scheme to help shift to low-emission cars, but BMW said more charging stations were needed to keep pace with the country’s ambitions.

Germany on Tuesday earmarked the cash to help the country’s key export industry tackle the coronavirus and climate crises.

German carmakers already face tough competition from Chinese and U.S. rivals in electric mobility, while demand the industry has also been hit by a collapse in demand caused by the COVID-19 pandemic.

Ola Kaellenius, chief executive of Daimler DAIGn.DE, welcomed the government announcement, saying the decisions were “exactly right.”

Volkswagen’s VOWG_p.DE CEO Herbert Diess also said he was confident Germany could bolster its role as a leading e-mobility market by focusing consumer rebates on electric cars only.

To read the full article, click here