RM449 EV Leasing Program for The Low Income?

You heard it right, RM449 (100 Euro), but unfortunately this initiative is in works in France as part of President Emmanuel Macron’s campaign pledge to make electric cars leasing more affordable through government subsidies. 

France’s Budget Minister, Gabriel Attal announced last Sunday on French LCI television program that this 100 Euro a month EV leasing scheme would cost way less then what most citizens spend just on petrol. He further added that the government is expediting measures to roll this initiative out soon.

As EV sales for 2022 in France now stands as 12% of total vehicles sold, President Macron admits that EV is still out of reach for low-income households. However, through this government state-sponsored effort they would be able to kick start EV adoption and growth in a bigger scale while countering criticism that even with subsidies, EVs are still out of reach for many.

In the present, the French government is offering subsidies up to 6,000 Euros (RM26,900) for the purchase of EV costing less than 47,000 Euros (RM210,000). They do also give additional aid through its Cash-for-Clunkers Program when for old combustion-engine vehicles is traded-in. 

This affordable leasing program would in-turn benefit European and foreign carmakers who are in high-gear rolling out new electric models which includes Renault, Volkswagen, Peugeot and more. 

We do hope other governments, especially ours would be able to follow suit and come-up with something similar that would benefit the "rakyats" particularly the B40 and lower M40 bracket. This would in-turn positively benefit Malaysia's automotive industry and governments EV adoption effort altogether.  

(Source: Bloomberg)