France’s budget minister announces $100-a-month electric vehicle rental plan

Michel SimariCar and driver

  • French President Emmanuel Macron has a plan to encourage the rental of electric vehicles by subsidizing them so that the user only pays around $100 a month.
  • The plan, announced by French Budget Minister Gabriel Attal on French news channel LCI on Sunday, is based on a presidential campaign promise Macron made in April.
  • According to Bloomberg, the French government is currently offering subsidies for electric vehicles with prices of up to $47,000.

    If you are looking to rent a new electric car on the cheap, maybe you would consider moving to France? Bloomberg reported on a plan by French President Emmanuel Macron to offer electric vehicle leases for as little as the equivalent of $100 a month. The plan was announced on Sunday by the Macron government’s budget minister, Gabriel Attal, on the French news channel LCI.

    We haven’t heard of any stipulations surrounding these planned subsidies, but according to Bloomberg, current French government subsidies reach the equivalent of $6,000 on vehicles priced up to $47,000. Bloomberg also reports that additional help is available through a Cash for Clunkers-like program involving older internal combustion engine vehicles.

    The move is intended to help low-income households, which, despite current government subsidies, are out of reach for many people. Electric vehicles would have represented 12% of the market in France during the first seven months of the year.

    Meanwhile, in the United States, the share of the automotive market made up of electric vehicles continues to grow, reaching 5.6% for the second quarter of 2022, Cox Automotive reported. Recently signed US inflation legislation means the US will remove the $200,000 per automaker limit on subsidies and provide $7,500 in tax credits. US tax credits come with stipulations based on the amount of minerals used, where the minerals come from, and where the batteries are manufactured.

    No rollout date has been set for the French plan, but Attal said the government was trying to see how quickly the vehicles and the subsidy could become available.

    This content is imported from {embed-name}. You may be able to find the same content in another format, or you may be able to find more information, on their website.