The French authorities are stopping the program to subsidize the leasing of electric cars

The French government announced on Monday that it has decided to end, for the rest of this year, the program aimed at subsidizing the leasing of electric cars by people with low incomes, after the number of applications submitted far exceeded initial plans.

electric car charging station photo

The French authorities are stopping the program to subsidize the leasing of electric cars

According to this program, people with incomes below 15,400 euros per year could, from the beginning of 2024, rent an electric vehicle for 100-150 euros per month, reports Reuters.

The Paris government launched this program last year to boost demand for electric cars among people who otherwise wouldn’t be able to afford them. According to the original schedule, the program was supposed to start earlier, but in the end it was pushed back to early 2024, because the French automakers were not ready with enough eligible vehicles.

Initially, the Paris Government budgeted an amount of 1.5 billion euros for 2024 to offer 20,000 subsidized leasing contracts. However, in the context of the huge demand, on Monday, the Executive informed and decided to increase the number, up to 50,000 leasing contracts, before the resumption of the program in 2025.

Also, the French Government offers those who buy a car an incentive between 5,000 and 7,000 euros to introduce more electric cars on the roads, at a total cost of one billion euros per year.

To be eligible for both programs, vehicles must meet certain limits on how much carbon was emitted during their production and delivery, a measure designed to ensure that cheap electric vehicles made in China do not qualify.

The list of eligible models includes 24 models produced by the Franco-Italian group Stellantis and five models by the French manufacturer Renault. In the case of Tesla cars, the Model Y is eligible, but not the Model 3.

Also, Dacia Spring, an electric car model imported from China, is excluded from the list of eligible models.

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