Germany is planning EUR 75B investment for massive transport turnaround
In a recent report from Germany, Sueddeutsche Zeitung has revealed that the Federal Ministry of Transport has planned a EUR 75 billion investment for a massive transport turnaround in the country. The investment will benefit the railways as well as electric transport on the roads, to enable Germany to achieve its targeted climate goals by 2030.
The Sueddeutsche Zeitung report is based on a draft paper apparently prepared by the Federal Ministry of Transport with regard to the planned billion-euro infrastructure fund. The draft paper has reportedly been uncovered ahead of the decisive meeting of the climate cabinet scheduled to be held on September 20, 2019.
In the planned infrastructure fund, an amount of approximately EUR 20 billion has been earmarked for the railways. Meanwhile, for promoting electromobility, the German government is mulling a two-fold increase in the federal share of electric-vehicle (EV) incentives to EUR 4,000 on the purchase of EVs with a list price of up to EUR 30,000.
In addition, with Germany aiming to have 50% buses running on electricity by 2030, the government is also considering a EUR 8,000 funding for electric cabs, along with encouraging the second-hand EV market by EUR 500.
Moreover, together with focusing on an increased adoption of EVs in Germany, the government’s billion-euro infrastructure budget also comprises an allocation of an undisclosed amount for advancing research related to alternative fuels, including for freight transport.