The Download: EV subsidies risks, and introducing The Debrief
Sales of new electric vehicles in Germany have plummeted, dropping nearly 37% in July 2024 from the same month one year ago.
One of the main reasons traces back to mid-December 2023, when the German government gave less than one week’s notice before ending its subsidy program giving drivers grants of around €6,000) toward the purchase of new battery-electric and plug-in hybrid cars.
It’s not just Germany ending these subsidy programs, either. Sweden and New Zealand have also scrapped their schemes and seen a resulting slowdown or drop in sales. This all comes at a time when the world needs to dramatically ramp up efforts to move to zero-emissions vehicles and pull fossil-fuel-powered ones off the roads to address climate change.
Experts are now cautioning that ending these support systems too soon could jeopardize progress on climate change. And as EVs continue to enter the mainstream, the question facing policymakers is how to decide when the technology is ready to stand on its own.Read the full story.
—Casey Crownhart
Introducing: The Debrief with Mat Honan
Mat Honan, MIT Technology Review’s editor in chief, has launched his very own newsletter: The Debrief. It’s a weekly take on the tech news that really matters, links to stories we love—as well as the occasional recommendation.
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