Economic stimulus package boosts innovation and economic recovery

The international motor vehicle manufacturers regard the extensive economic stimulus package adopted yesterday by the grand coalition as an important step towards overcoming the corona crisis. Reinhard Zirpel, President of the Association of International Motor Vehicle Manufacturers (VDIK) said: “The Federal Government is thus laying the foundation for an economic recovery after the severe crisis. The overall package can provide a broad economic stimulus from which all affected industries will benefit. In addition, the program will boost further innovations in mobility. The increased promotion of alternative drive systems, charging infrastructure and environmentally friendly commercial vehicles points in the right direction.

An essential part of the package is the further increase in the premium for electric vehicles. The federal government will double its funding for battery electric cars, plug-in hybrids and fuel cell vehicles. The manufacturer’s share remains unchanged. It must now be made clear quickly when the higher innovation premium will take effect. Ideally, the existing Environmental Bonus Directive should be amended at short notice and apply from the announcement of the stimulus package. Zirpel emphasised: “The rapid implementation of all the measures agreed is particularly important to prevent further consumer reluctance to buy.

Private buyers of motor vehicles in all classes, price segments and with all engines will benefit from the reduction in value-added tax. Whether this measure in particular will lead to greater volume effects on the car market will be seen in the coming months.

The announced additional investments in the charging infrastructure also point the way forward. The international manufacturers recommend that the already planned subsidy program for private charging points should now be launched very quickly. It should be endowed with around 1 billion euros per year by the middle of this decade. In addition to battery electromobility, hydrogen plays a central role in future mobility, both for cars and trucks. The agreement on the hydrogen strategy contained in the package is therefore also to be welcomed. In addition, environmentally friendly commercial vehicles are to be promoted with further programs at national and European level.