• Mon. Mar 4th, 2024

Electric Vehicles in Demand: French Government Considering Increased Support after Overwhelming Response to LOA System

ByEditor

Feb 11, 2024
French Manufacturers Urged to “Accelerate” to Receive Increased State Subsidies for Social Leasing

The French government is considering increasing its support for electric vehicles after receiving an overwhelming number of 90,000 requests for the “social leasing” system. This system, known as LOA, allows individuals to lease an electric car for less than 100 euros per month. The program is aimed at low-income and heavy commuters in France.

However, in order to make this happen, French manufacturers must increase their production pace, according to Minister of Industry and Energy Roland Lescure. He stressed that only vehicles built in France or Europe are eligible for this subsidy. The government is currently considering financing up to 50,000 cars instead of the initial 25,000. Lescure stated that this will be done at a pace that ensures that cars made in China do not dominate the French automobile fleet.

Faced with strong demand, Christophe Béchu, the Minister of Ecological Transition, assured that the government is working closely with car manufacturers to increase the number of available vehicles. Lescure noted that the system may need to wait a little while production catches up with demand. French manufacturers are planning to launch several electric models in the coming months.

Currently, the “social leasing” program is reserved for individuals with an income less than 15,400 euros who drive more than 8,000 km per year or live more than 15 km from their place of work. The rental is planned for three years and can be renewed once. The state will finance each rental up to a maximum of 13,

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