Renewed support for the automotive sector
Germany earmarked 3 billion euros to support the development and production of climate-friendly vehicles as the auto industry grapples with challenges caused by the COVID-19 pandemic.
This support will be allocated to three programmes:
(1) "Zukunftsfonds Automobilindustrie" ,
(2) the extension of the innovation premium, and
(3) the support programme for duty vehicles
1 billion euros will be allocated to the "future fund for automotive industry" (Zukunftsfonds Automobilindustrie) from 2021 to 2025.
By summer 2021, an expert committee will present recommendations for the allocation of the future fund to address medium and long term challenges of structural change in the automotive industry.
Another 1 billion euros will be allocated to extend a consumer rebate for buying electric cars that had been planned to end next year.
Finally, 1 billion euro will be allocated to a fleet renewal scheme for more efficient and environmental-friendly heavy duty vehicles.
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