France is working on a program to let people lease EVs for €100 per month

France is preparing to launch a new electric vehicle subsidy program that would allow people to lease an electric vehicle for 100 euros ($100) a month. Budget Minister Gabriel Attal announced the plan over the weekend on the country’s news channel LCI. . “We know that from many French people [EVs] remain very expensive,” he said, adding that the government is working to see how quickly it can implement the measure.

Under a subsidy scheme similar to that in the US, French car buyers can currently get as much as electric cars costing less than €47,000. Consumers can also use a federal trade-in program to get cash for their old ICE cars. Despite these incentives, electric vehicles accounted for just 12 percent of new car sales in France in the first seven months of 2022.

For comparison, France is well behind on this front compared to countries like Norway. Last year, battery electric and hybrid vehicles accounted for all new car sales in the Nordic countries. Much of what’s driving adoption is a subsidy system that allows car buyers to avoid taxes found on internal combustion engine cars.

Attal’s announcement follows months of extremely hot weather across France as Europe and the world feel the brunt of worsening climate change. After several heat waves in June and July, temperatures in parts of Paris soared (nearly 100 Fahrenheit) earlier this month.

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