France has announced that it will extend incentives for the purchase of new pure electric or plug-in hybrid vehicles until July 2022, and provide exchange subsidies for environmentally friendly new and used cars, according to foreign media reports.
The French government will provide a subsidy of 6000 euros for individual consumers who buy pure electric vehicles with a price of less than 45000 euros, and 4000 euros for corporate customers. If the price of the vehicle is between 45000 and 60, 000 euros, the subsidy is 2000 euros. Pure electric commercial vehicles can enjoy higher subsidies, with 7000 euros for private buyers and 5000 euros for corporate buyers. Plug-in hybrid cars can receive a subsidy of 1000 euros.
The French government had planned to reduce subsidies from January 1, 2022, reducing subsidies for private purchases of pure electric vehicles to 5000 euros, for corporate customers to 3000 euros, and for plug-in hybrid models completely.
French economy Minister Bruno Le Maire announced the extension of incentives last week. He said the overall cost of the energy transition would be "staggering" and would require continued support from the state to reduce the cost of buying electric vehicles. As part of the government's stimulus measures for the epidemic, France increased incentives for zero-emission and low-emission vehicles for the first time in May 2020.
French President Emmanuel Macron (Emmanuel Macron), who will seek re-election next year and the first round of election scheduled for April, has been facing public anger over rising energy prices. Plans to raise diesel duty in 2019 sparked "yellow vest" protests that paralyzed the country's retail industry for months.
Like other European markets, French car sales have fallen sharply in recent months due to chip shortages. Pure electric vehicles had a 12.7 per cent market share in France in September, up 70 per cent from a year earlier, according to Avere, an electric vehicle trade association.
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