Good News for French EV Customers: Budget Minister Announces $100-a-month EV Car Leases

EVs might be made available to people in France for as little as $100 per month under a program for

EV

EVs might be made available to people in France for as little as $100 per month under a program for subsidized electric car leasing. During a recent interview on television, Gabriel Attal, the budget minister, claimed that the 100 euro goal is less than what many individuals spend on gas each month.

President Emmanuel Macron vowed to lower the cost of electric cars for low-income families as part of his reelection campaign. The French government currently provides subsidies for EV purchases (for an electric vehicle under 47,000 euros, up to 6,000 euros), but critics claim that many potential purchasers still cannot afford them.

According to reports, the government is attempting to assess how fast the scheme can be implemented and how many EVs would be available for leasing. The program’s full details were not provided, so it is unknown if it would be set up like a conventional car lease with a down payment, mileage limitations, and other restrictions.

When they take part in a government trade-in program that pays cash in return for gas-powered vehicles, some drivers can save even more money. However, a discount on a brand-new car is insufficient for people who lack the cash up front to make such a large purchase (or who are unwilling to commit to an EV in the first place).

When the going gets tough, the tough get done. With France and other regions of the world suffering unusually high temperatures as a result of climate change, Macron’s administration is under pressure to come up with novel incentives for eco-friendly behaviors. However, how drivers would charge their rented EVs has not yet been discussed.

Some people might not want to spend money having a charging station built at home from a financial aspect. In the US, the price ranges from $1,000 to $4,500. When the charging station and installation cost are factored in, it may not be worth it for someone whose lease is just for a year or two. The French government is also actively working to determine how fast the new leasing scheme may be made available.

It’s improbable that there are enough publicly accessible charging stations to facilitate widespread EV rentals, given France’s relatively poor EV adoption. By the first seven months of 2022, 12 percent of new automobile sales in France were electric vehicles. Additionally, there has been considerable interest nationally.

Chevrolet’s new Silverado EV was completely sold out in January in only 12 minutes. Ford recently unveiled an all-electric F-150 Lightning pickup truck for use by police departments, while Dodge only recently gave a sneak peek at its Charger Daytona SRT Concept. GM and Honda revealed intentions to develop EVs in April jointly.

In the most recent quarter, Tesla delivered 254,695 vehicles, up 26% from last year’s period. Production was nonetheless impeded by parts shortages and China-related shutdowns connected to COVID. In related news, California officials recently approved a plan to prohibit the sale of new internal combustion vehicles by 2035.

By 2026, the legislation requires that 35% of the new light trucks and vehicles sold in California be electric or emissions-free. By 2030, the goal will increase to 68 percent, and by 2035, it will be attained.

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