Germany earmarks 500 million euros for electric car charging: sources - Metro US

Germany earmarks 500 million euros for electric car charging: sources

FILE PHOTO: German telecommunications company Telekom AG presents it's first multi-charging system for electric cars in Bonn

BERLIN (Reuters) – The German economy ministry wants to earmark 500 million euros ($567 million) from Berlin’s bumper stimulus package to support the roll-out of charging stations for electric cars, two government sources told Reuters on Tuesday.

The sum, part of 2.5 billion euros specifically aimed at expanding electric vehicle infrastructure, will be targeted at private users, including households and builders, the sources said.

Berlin aims to install about one million public charging spots by 2030, up from 27,730 currently, a key step in addressing consumers’ concerns about the driving range of battery-powered cars, which so far account for just 0.6% of vehicles on German roads.

It also addresses criticism from utility companies, including E.ON, which have called for support to households in addition to incentives for public chargers, which are 40-50% subsidised.

The ministry also suggested spending an extra 1.5 billion euros on supporting domestic battery cell production, which would more than double existing funds for that purpose, the sources said.

The remaining 500 million euros of the overall 2.5 billion euros should be earmarked for research and development, the sources added.

(Writing by Michael Nienaber and Christoph Steitz; Editing by Michelle Martin and Mark Potter)

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