According to media reports, the German government plans on spending €500 million ($705 million) by 2011 to support the development of electric cars. The goal is to have 1 million electric cars on German roads by 2020. The funds will be drawn from an economic stimulus package that the German government passed earlier this year.
The German target is similar to President Barack Obama’s campaign vision of a million plug-in electric hybrids on the road by 2015. Earlier this month, President Obama announced $2.4 billion in federal grants to develop next-generation electric vehicles and batteries in the U.S.
The German government hasn’t released specifics on its electric car plan, but it appears that it will spend heavily on electric car infrastructure, like charging stations.
The government plans to spend €115 million ($162 million) examining in eight test regions how the cars could best be introduced. It also plans to put €170 million (about $240 million) into research on the batteries that power electric cars, making domestic production a priority and ensuring that German experts are trained in the technology.
