The Russian Ministry of Economy said on Wednesday that the country plans to subsidize the purchase of domestically-made electric vehicles to stimulate demand and production. The use of electric vehicles in Russia lags far behind Europe, and there is no production of electric vehicles in Russia.
In order to change the current status quo, the Russian government has formulated an ambitious electric vehicle development plan and is considering providing financial stimulus policies to boost the industry. It is estimated that of the 45 million vehicles currently in use in Russia, only 11,000 are electric vehicles, and most of them are second-hand cars.
Russian Minister of Economy, Maxim Kolesnikov stated that since electric cars are much more expensive than cars powered by traditional energy sources, the subsidy policy introduced is aimed at enabling Russian-made electric cars to be consumed. Those who can afford it.
In addition, greater use of electric vehicles will also help Russia achieve its goal of reducing carbon emissions. Russia’s goal is to produce 220,000 electric vehicles per year by 2030. The Russian government stated that foreign automakers have shown interest in producing electric cars in the country.
