SUBSIDY & TAX
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.
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).
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
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
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
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.