SUBSIDY & TAX

BENEFITTING FROM ELECTROMOBILITY

SUBSIDY PROGRAMS IN GERMANY

Although many countries are offering subsidy programs to incentivise the switch to electromobility, the benefits in Germany are among the most attractive. With offers ranging from purchase grants as environmental bonuses1 to savings on car tax2 find out below how your choice can pay off.

ENVIRONMENTAL BONUS

In Germany, switching to electromobility is incentivised with an environmental bonus¹. Until 31st December 2022, the purchase of an all-electric model is currently subsidised as follows: for a Retail price incl. VAT of 47.600 € to a maximum of 77.350 € (net list price of 40.000 € up to a maximum of 65.000 €), the subsidy is up to 7.975 €; (federal share: 5.000 €, Genesis share: 2.975 € incl. VAT).

VEHICLE TAX

Current law states that all fully electric vehicles registered for the first time between now and 2025 are exempt from vehicle tax until 2030, starting from the day of registration.²

COMPANY CAR TAXATION

When a company car is used privately as well as for work, the car is taxed on the basis of the gross list price. As an example, the GV60 base model priced at a gross list price below 60.000 € benefits from a tax reduction to 25 % . All other fully electric Genesis models with a gross list price of more than 60.000 € are currently (May 2022) eligible for a sizable deduction with the tax burden decreasing to 50 %. The same principle also goes for drivers that are taxed via vehicle log.³

E-PLATES

Another advantage when driving a fully-electric vehicle is the eligibility for e-plates. These special license plates can be used for all fully-electric Genesis models. E-plates allow drivers to enjoy numerous benefits, such as free parking and use of the bus lane.⁴

DID YOU KNOW?

Many first-time buyers of fully electric vehicles do not take advantage of the environmental bonus. To make sure that your switch to electrified driving pays off, contact us today. We're more than happy to support you on your electrified journey.

Further information on the official fuel consumption and the official specific CO2 emissions of new passenger cars can be found in the 'Guide to Fuel Consumption, CO2 Emissions and Electricity Consumption of New Passenger Cars', which is available free of charge at all sales outlets and at DAT Deutsche Automobil Treuhand GmbH, Hellmuth-Hirth-Straße 1, D-73760 Ostfildern or at www.dat.de/co2.
1The manufacturer's share of the environmental bonus is automatically deducted from the net list price. Under certain conditions, the environmental bonus also applies to leased fully electric vehicles and younger used vehicles that are on the list of eligible vehicles. The amount and eligibility for the "innovation premium" or the environmental bonus is governed by the guidelines available on the BAFA website. There is no legal entitlement to the "innovation premium" or the environmental bonus. Receipt of the federal share is subject to a positive decision on the application by the Federal Office of Economics and Export Control (BAFA). The environmental bonus ends when the available subsidies are exhausted, but no later than 31 December 2025. There is no legal claim against Genesis.
2For details on the current legal situation, please visit the Federal Ministry of Finance's website here.
3As of 1 January 2020. More details available here. The law is subject to change.
4The legal basis is regulated in the Electromobility Act (EmoG) and is thus subject to change. Please find out about the current status here.

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