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Europe: Germany readies $1.4B in aid for electric cars

The German government has allotted an additional €1 billion ($1.4 billion) in research and development aid for electric cars on top of its existing aid in the form of tax credits and dedicated parking spots to meet its goal of having one million electric cars on the road by 2020.

That will put Germany in a neck-and-neck race with the United States to deploy as many electric cars as possible. The U.S. government has promoted electric cars stateside by offering tax credits to electric car buyers to bring the price of electric cars down and make them more appealing to mainstream car buyers. The Nissan Leaf, which costs $32,780 before government tax credits, is one of the cheapest electric vehicles but still carries a rather daunting price tag. It will be another A/B test to see which government investment strategy — the U.S.’s or Germany’s — is better for making electric cars more readily available to everyday consumers.


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