Germany's Finance Minister Has Called On Carmakers To Invest Heavily In Electric Vehicles

- Apr 28, 2018-

It is reported that Germany's economy minister ault mayer (PeterAltmaier) 16, local media interview, said the German car manufacturers have to invest heavily in electric vehicle technology, and development of battery production facilities in Europe, in order to keep up with the pace of the global rivals.

Mr Altemer said carmakers needed to invest "tens of billions" in electric vehicle technology and needed to start as soon as possible.In addition, given that electric cars will need millions of batteries in the future, carmakers will need to invest more in battery production, which will make a big profit for companies.If not, German cars will have to accept that most of the added value will be produced in Asia or the us, rather than in Germany.

According to the report, the German automotive industry for Germany the Europe's largest economy provides about 800000 jobs, but in 2015 the public vehicle emissions after cheating scandal, greatly affected the industry.

To help reduce pollution and avoid a possible blanket ban on diesel vehicles, carmakers such as Volkswagen and Daimler have accelerated the development of electric vehicles.

In addition, Germany's new coalition government plans to reduce the tax burden on electric car drivers, add at least 100,000 charging points across the country, and subsidize car sharing to drive green transport.In addition, the German government plans to fund research on autonomous driving technology and support car companies to build battery manufacturing plants in Germany.

according to reports, mayer said German car companies need to develop a range of at least similar to tesla, but cheaper models, and should focus on developing an excellent for driverless cars information technology platform.German companies should also work with other European companies to develop Europe's battery production systems.