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France had to ditch an EV leasing incentive program because it was too popular

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France had to ditch an electric vehicle leasing incentive program that helped low-income households obtain zero-emission vehicles because it was too popular.

“It’s a real success story and symbolic of French environmental policy. It is good for the wallet and good for the planet,” President Emmanuel Macron said about the program. Unfortunately, the program was also a victim of its own success.

25,000 European-built EVs were offered to be leased to people for just €100, roughly $107, a month. France then upped the program to offer 50,000 vehicles after it had received more than 90,000 applications for the program. They could obtain EVs worth €47,000 ($50,424) for a low price, which was based on their income.

France use the program to reach lofty EV goals, including 1 million EVs in the country by 2027. But it wasn’t a free-reign program.

There were a few stipulations: participants in the program had to be at least 18 years old, live at least 9 miles or 15 kilometers from their workplace, and drive more than 4,970 miles, or 8,000 kilometers per year.

The French government would subsidize a maximum of €13,000 for each vehicle.

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The country could not keep up with the number of applicants, according to a report from The Guardian.

“Today, there is a great demand and we don’t yet have enough products made in France. That means French constructors need to step up the pace or commit to doing so,” Industry and Energy minister Roland Lescure said. “What’s fantastic about this offer is that at the same time you give people who aren’t necessarily very well off access to an inexpensive electric vehicle and what’s more you do so by producing more French vehicles. We have to do both.”

France intends to bring the program back next year in 2025. However, it will be more tempered and will align with a demand level that France can handle.

“A new wave of orders will be put in place for 2025 because the government wants to increase the offer,” Lescure concluded.

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The post France had to ditch an EV leasing incentive program because it was too popular appeared first on TESLARATI.


Source: https://www.teslarati.com/france-ditch-ev-leasing-incentive-program/


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