On 26 May 2020, the French government announced an €8 billion package to rescue the automotive industry and boost electric vehicles. The plan includes the following measures:
..A car scrappage scheme: The scheme includes €1 billion to increase the current State bonus for consumers buying electric cars up to €7,000 (currently at €6,000). Business customers are entitled to a €5,000 subsidy and an additional bonus of €2,000 for the purchase of plug-in hybrids. Eligible vehicles shall no cost more than €50,000 and be able to travel on battery power at least 50 kilometers. The electric bonus will be available from 1 June to 31 December 2020.
..Trade-in premium: Consumers who buy new or used latest-generation petrol or diesel vehicles and full-electric models will be entitled to a €3,000 and €5,000 bonus, respectively. Subsidies will be available from 1 June and will apply to the first 200,000 applicants..
..A €5 billion loan for the French carmaker Renault: Press reports the State
loan is contingent on the car manufacturer keeping two key plants in France.
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