German government announced an additional 1 billion euros for EV research & development

The government of Germany has disclosed that it has added 1 billion euros ($1.4 billion) to support the research and development of electric vehicles, doubling the current budget by 2013 in an aim to become the forerunner of the automobile technology. Among the incentives that Germany will implement in order to bring 1 million EV units on the streets by 2020 are the promotion of government use of electric cars, tax rebates and dedicated parking spots, Chancellor Angela Merkel said in last Monday’s interview with reporters in Berlin.

She further stated that vehicles are forecasted to “come in very quickly.” However, she added that it may take a couple of years for “the really broad market debut” to come. Moreover, Merkel said that she is certain the German manufacturers will be “in the fray at the right time."

Germany is investing on EVs as part of its goal to ensure the dominance of automakers like BMW AG, Volkswagen AG and Daimler AG in the future. Merkel added that her cabinet will sponsor a progress report on ways to hasten the development of EVs during a meeting set to take place on Tuesday in Berlin. Merkel previously disclosed in a weekly podcast posted a few days ago on her website that the two greatest challenges in developing the EVs are the manufacture of batteries and the construction of infrastructure to charge them.[via - 4wheelsnews]

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