Domestic
E-car boom in Germany: Chinese manufacturers benefit significantly from incentives
New registrations of electric vehicles rose in July, primarily due to federal funding. Chinese manufacturers saw significant increases, while German producers stagnated.
In July 2023, demand for electric cars in Germany significantly increased. According to experts, this is mainly due to federal subsidies that have made electric vehicles more attractive. This development is particularly beneficial for Chinese automobile manufacturers, who are heavily benefiting from these incentives.
Recent figures show that brands like BYD have increased their sales volume by 365 percent, while German automotive companies have stagnated. Experts note that the electric vehicle incentives particularly advantage younger, emerging manufacturers from China, while established German brands are lagging behind.