The German Government will Allocate 3 Billion Euros to Support the Auto Industry
OREANDA-NEWS. The German government will allocate another 3 billion euros to support the auto industry of the country. This is stated in the statement of the official representative of the German government Steffen Seibert, released on the evening of Tuesday, November 17.
This decision was made after Angela Merkel met with representatives of the automobile industry. Thus, the total amount of support for German automakers will reach about 5 billion euros. Of the currently announced funds, one billion euros will go to the so-called "Fund for the future of the automotive industry", which is intended to finance medium-and long-term strategies for the transformation of this sector. In these purposes cooperation should be strengthened between individual structures at the federal, state and regional levels, as well as between representatives of business, unionists and the scientific sphere.
Berlin extended the payment of bonuses to buyers of cars with electric and hybrid engines until the 2025. Hildegard Müller, head of the German automobile industry Association (VDA), said after a conversation with German Chancellor Angela Merkel that the extension of payments is an aid to climate protection and economic development. "Every week, thanks to us, 12 000 new electric cars appear on the streets of Germany," she said.