The tax benefits are targeted to more expensive company cars, hoping to boost demand for EVs
Germany will introduce a depreciation allowance for electric company cars. Drivers of expensive zero-emission company cars also benefit from tax deductions. The goal is to boost EV sales, following a massive drop in recent months. Less than a year after Germany abruptly cut EV subsidies, the federal government wants to introduce tax benefits for electric company cars. The move comes after VW bosses threatened to close German plants due to insufficient demand.
More specifically, their taxable income increases by 0.25 percent of the gross list price of the EV per month. For comparison, the rate is 0.5 percent for hybrids and PHEVs, and 1 percent for ICE-powered vehicles. As reported by Auto Bild, this translates to monthly payments of €237.5 instead of €950 for a €95,000 EV like the Kia EV9, BMW i5, Mercedes EQE SUV, or Porsche Macan Electric. BMW i5 The EV subsidies are estimated to cost a combined €540 million .
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