German coalition parties agree to reduce e-car subsidies, Handelsblatt reports

BERLIN, July 26 (Reuters) – Germany’s coalition parties have agreed to reduce subsidies for electric cars and to do away with incentives for buyers of hybrid vehicles, German daily Handelsblatt reported, citing government sources.

The subsidy for e-cars with a list price of less than 40,000 euros ($40,572.00) is to decline to 4,500 euros from currently 6,000 euros, it said.

Buyers of pricier electric vehicles costing up to 65,000 euros will receive a subsidy of 3,000 euros, the paper said. But it added that threshold would drop to 45,000 euros next year and that subsidies would then no longer be available for company cars.

($1 = 0.9859 euros)

Writing by Maria Sheahan, editing by Rachel More