Germany to up financial aid for cars sector - government sources
Germany will provide an additional 1 billion euros (896.4 million pounds) to support the battered automobile industry
Employees, separated by plastic hygiene protection, work at the A3 and A4 production line of the German car manufacturer Audi, amid the spread of the coronavirus disease (Covid-19) in Ingolstadt, Germany Photo: Reuters
Germany will provide an additional 1 billion euros (896.4 million pounds) to support the battered automobile industry by subsidizing the development and production of climate-friendly cars, two government sources told Reuters on Tuesday.
Another at least 500 million euros will be used for a scrappage scheme for older trucks, the sources told Reuters.
Suppliers can expect up to 500 million euros in guarantees to secure loans, they said.
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