France Adjusts EV Subsidy Policies Amid Surging Demand

The French government reduces subsidies for wealthier buyers and pauses a popular leasing scheme to manage budget and meet environmental goals.

France adjusts its EV subsidy policies, reducing benefits for higher-income buyers and suspending a popular leasing scheme due to overwhelming demand.
The government reduces the subsidy for the top 50% of income earners from 5,000 euros to 4,000, aiming to manage budget constraints while still promoting electric vehicle adoption.
A 'social leasing' program offering electric cars at low monthly rates to low-income households is paused after subsidizing double the anticipated number of vehicles.
Officials plan to relaunch the leasing scheme at the end of 2024 for 2025, indicating a commitment to making electric vehicles accessible to a broader population.
The adjustments reflect France's efforts to balance environmental goals with fiscal responsibility amid a surge in electric vehicle interest.