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France is focusing on an application to let people lease EVs for 100 monthly

France is getting ready to launch a fresh electric vehicle subsidy program that could give people the opportunity to lease an EV for 100 ($100) monthly. Budget Minister Gabriel Attal announced the program on the weekend on the countrys LCI news channel, reports Bloomberg. We realize that for most French [EVs] remain very costly, he said, adding that the federal government was attempting to work out how quickly it might implement the measure.

Under a subsidy scheme thats like the one introduced by the united states Inflation Reduction Act, French car buyers can currently receive just as much as 6,000 off electric vehicles that cost a lower amount than 47,000. Consumers may also make the most of a federal trade-in program to obtain money because of their old combustion-engine cars. Despite those incentives, EVs only accounted for 12 percent of new vehicle sales in France through the first seven months of 2022.

For context, France is significantly behind on that front in comparison to countries like Norway. This past year, battery-electric and hybrid vehicles composed nearly two-thirds of most new car sales within the Nordic country. A lot of whats driving adoption there exists a subsidy scheme which allows car buyers in order to avoid taxes which are entirely on internal combustion engine cars.

Attals announcement follows months of extremely warm weather across France as Europe and the planet have the brunt of worsening climate change. After enduring multiple heatwaves throughout June and July, elements of Paris saw temperatures rise to 36 degrees Celsius (nearly 100 Fahrenheit) earlier this month.

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