skip to main content
|

Financial News

Wednesday August 19, 03:25 PM
Germany wants a million electric cars by 2020

By Aurelia End

Photo
Click to enlarge photo

BERLIN (AFP) - The German government unveiled plans Wednesday to get one million electric cars zipping around the country by 2020, offering sweeteners to jump-start national giants like BMW (Xetra: 519000 - news) and Volkswagen (Xetra: 766400 - news) into action.

"It is the federal government's aim that by 2020, there will be a million electric cars on Germany's streets," said Berlin's "national electro-mobility plan" which was approved by the cabinet.

Photo
Click to enlarge photo

"In 2030, this could be over five million. By 2050, traffic in towns and cities could be predominantly without fossil fuels," the proposals added.

Berlin plans to spark development in electric cars by offering incentives for research in area such as batteries and recharging systems, as it battles to catch up with Asian firms which have zoomed ahead of their German rivals.

Photo
Click to enlarge photo

"We are very confident that we in Germany can provide enough of an impulse to compete with the United States and Asia," Transport Minister Wolfgang Tiefensee told reporters.

"The Japanese are strong in hybrid technology but ... the big markets in Europe, the United States and Asia are still open," he added.

Photo
Click to enlarge photo

He said the goal of the plan was to "bring electro-mobility as quickly as possible into everyday life."

The plan added that Berlin is "examining an incentive programme for the purchase of 100,000 electric cars," but it nevertheless drew fire from green groups.

Environmentalists had called for a subsidy of around 5,000 euros (7,050 dollars) for consumers to buy electric cars along the lines of Berlin's five-billion-euro "cash-for-clunkers" scheme to support the traditional auto industry rolled out in January.

"The government has introduced a subsidy to sell an old technology but has not put in place incentives to buy the new electric vehicles," Renate Kuenast, parliamentary group leader of the Green Party, told the Weser-Kurier regional daily.

The motorists club of Germany (VCD) was also sharply critical of the proposals. "Electric cars are not going to save the climate in the foreseeable future," the group said in a statement.

"The government says there could be a million electric cars on the road by 2020, but this is in comparison to 50 million petrol and diesel vehicles," said Werner Korn from the VCD.

However, the German Association for Information Technology, Telecommunications and New Media (BITKOM), welcomed the plans, describing them as a "milestone towards improving the sustainability of road traffic."

German luxury car maker BMW has already teamed up with auto parts maker Bosch (Frankfurt: ZEX.F - news) and its Korean partner Samsung to supply lithium-ion batteries for a future electric city car.

Volkswagen hopes to turn out its first all-electric car in 2013, VW head Martin Winterkorn said in July.

Meanwhile, Daimler (Xetra: 710000 - news) launched its first hybrid model earlier in June, almost 10 years after the market leader, Japan's Toyota.

Send Article by Email  |  Send Article by IM  |  Blog This with Y! 360  |  Printable View

Full Coverage : Business News for Mobile
  Previous article : India Jet Airways disrupted as pilots 'report sick' ( )
  Next article : Goldman Sachs execs sold $700m of stock: report ( )
Yahoo! Finance : Economic News
  Previous article : US to lower budget deficit estimate ( )
  Next article : BoE chief call sparks doubt over Britain recovery ( )
Yahoo! Finance : Yahoo! Finance - Automobile Sector
  Previous article : GM board to weigh Opel sale ( )
  Next article : VW, Porsche could seal merger in 2010: manager ( )
Full Coverage : Headline News
Yahoo! Finance : Market News | Financial Market Overview - Yahoo! Finance UK
Yahoo! Finance : Yahoo! Finance - Transport Sector
Yahoo! Finance : Yahoo! Finance - News - Commentary
  Previous article : India's central bank tipped to keep rates on hold ( )
  Next article : Swedish truckmaker Scania slumps into loss ( )
Yahoo! Finance : Yahoo! Finance - Transport Sector
  Previous article : Brazil to negotiate purchase of French warplanes ( )
  Next article : Cathay's revenues slides 27.1 pct ( )
Yahoo! Finance : Yahoo! Finance - Automobile Sector
  Previous article : Germany turns up pressure on GM over Opel ( )

AFP logo

BMW AG
519000
n/a
n/a
Daimler AG
710000
n/a
n/a
Volkswagen AG
766400
n/a
n/a
BOSCH
ZEX.F
n/a
n/a
FTSE 100  Gainers  Losers
FTSE 250 Quotes by Sector
Dow Jones  Nasdaq  S&P 500
DAX 30   Eurostoxx 50
 

Recession

  Just how deep is the trough?
Banking Crisis
 

Are the banks out of the woods?

Stock Market Crash
  Explaining the global market turmoil
Money saving Tips
 

How to beat the credit crunch

Isn't Finance Funny?
 

Scandals and silliness


Message Boards
Property Pensions
Savings Utilities
UK Stocks Investing
Speach bubble EVOLUTION=PREPOSTEROUS BEYOND WORDS
Speach bubble MANKIND IS THIRSTY! THIRSTY FOR GOD., SOME KNOW THE TRUTH SOME DON'T
Speach bubble THERE IS NO GOD
Speach bubble GOD WAS,IS AND WILL ALWAYS BE!! PTL.
Speach bubble Bad News for MiPi's Salary


Archives of

Copyright © 2009 AFP AFP. All rights reserved.