French President Emmanuel Macron announced a new scheme for electric vehicle subsidies, prioritizing lower-income households that want to step into the electric era.
More specifically, EV subsidies for lower-income families in France will rise to €7,000 ($6,890) and fall to €5,000 ($4,924) for all other buyers, instead of the standard €6,000 ($5,908) that currently applies to all EV buyers. This change will help sustain the prices of electric models amidst the rising costs of raw materials like cobalt, lithium, and nickel. For a good measure, the China-built Dacia Spring, the cheapest electric car in France, has seen its price rise by 11 percent in 2022.
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