Friday, September 4, 2009

Financing & Credit

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Friday, August 21, 2009

The aim is to transform the country into a global...

If German Chancellor Angela Merkel's cabinet gets its way, small hip-high charging points will sprout up across Germany in the not-too-distant future. According to the "national development plan" unveiled on Wednesday, a million electric cars will be quietly whizzing along German roads by 2020.


The aim is to transform the country into a global frontrunner in the technology. "Our goal is to make Germany the leading market for electro-mobility," Economy Minister Karl-Theodor zu Guttenberg told reporters in Berlin.

To support its good intentions, the government has earmarked some €500 million ($705 million) to improve the technology over the next three years. Roughly a quarter of the total, which was set aside under the country's second economic stimulus package, will be directed into eight new test areas to establish how the cars could be best moved into the mainstream.

Talk of electric cars has long been in the air in Germany, home to household names like Volkswagen, Porsche and BMW. Volkswagen said it will bring out its first electric car in 2013. This year, Daimler and the German utility RWE are set to stage electric car tests around Berlin. Meanwhile, a team is even working on a "New Trabbi," a rejuvenated electric version of East Germany's spluttering Trabant, which is scheduled to make its debut at the Frankfurt Motor Show next month.

New and the Best

Germany has moved up a gear in its bid to get viable electric cars off the drawing board and onto the streets. However the government's plan to get a million electric cars running by 2020 sparked more boos than cheers on Thursday, with some commentators complaining the high-profile plan is more about the election than the environment.