The number of e-cars sold in the first six months in Germany has drastically dropped in comparison with last year, so that the government’s target of 15 million e-cars on the road by 2030 looks even more utopian than before. This year, only 15% of new cars are electrically powered.
One reason for that could be the end of government price subsidies, which makes e-cars something for the rich only. A reintroduction of subsidies is problematic, however, because 1) it would increase government indebtedness, and 2) both the Free Democrats and the Green Party are against it. In addition, according to a study by the Deutsche Automobil Treuhand GmbH, there is no broad acceptance of “electromobility” among the population. According to the study, two-thirds of respondents, for example, do not yet consider the technology in passenger cars to be “matured.” Another reason for the flop is that the increased energy costs make electromobility more expensive than fossil fuel-powered cars.
One consequence of the electromobility flop? The current crisis of battery producer Varta, which reported a 8.5% drop in income in Q2.
