MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EMISSIONS: France To Reduces EV Support Spending

EMISSIONS
BulletPower BulletsEnergy BulletsCommodities

France is reducing the assistance for the purchase of EVs by one third to €1bn in 2025, the government said in its 2025 budget proposal on Thursday, according to Reuters. 

  • "Thanks to the economy of scale and to progress on batteries, the cost of electric vehicles has gone down and their share of total vehicles sold has increased, reducing the need for subsidies," the finance ministry said.
  • EV sales in Europe are expected at just over 3.2 million in 2024 – about 4% higher year on year according to BNEF.
  • "If you want to meet the moment of the electric transition, it must take place with incentives," Luc Chatel, the president of the Automobile Platform, told said.
  • "If you change the rules every four days and you reduce the bonus, what will happen? We saw it in Germany”, Chatel added.
  • Separately, the budget also demands penalties for 5g/CO2/km in 2025, and then 7g/CO2/km in 2026 and in 2027.
157 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

France is reducing the assistance for the purchase of EVs by one third to €1bn in 2025, the government said in its 2025 budget proposal on Thursday, according to Reuters. 

  • "Thanks to the economy of scale and to progress on batteries, the cost of electric vehicles has gone down and their share of total vehicles sold has increased, reducing the need for subsidies," the finance ministry said.
  • EV sales in Europe are expected at just over 3.2 million in 2024 – about 4% higher year on year according to BNEF.
  • "If you want to meet the moment of the electric transition, it must take place with incentives," Luc Chatel, the president of the Automobile Platform, told said.
  • "If you change the rules every four days and you reduce the bonus, what will happen? We saw it in Germany”, Chatel added.
  • Separately, the budget also demands penalties for 5g/CO2/km in 2025, and then 7g/CO2/km in 2026 and in 2027.