Germany sets out 500 million euros for electric car charging

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

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

Berlin intends to setup about one million public charging spots by 2030, increasing from 27,730 currently, a key step in addressing customer’s concerns about the driving range of battery-powered cars, which until now account for just 0.6% of vehicles on German roads.

It also addresses criticism from utility companies, such as E.ON, which have called for support for households along with incentives for public chargers, which are 40-50% subsidized.

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

The rest of 500 million euros of the overall 2.5 billion euros should be set out for research and development, the sources added.