EV Push Too Much Too Soon For Weak Autos Market?

Despite its austerity plan, the Spanish government has allocated an additional EUR168mn towards subsidising electric vehicle (EV) development in the country. The current funding is in addition to the EUR590mn earmarked by the government in March 2010, as part of its broader aim of bringing at least 250,000 electric and hybrid vehicles on the roads nationwide by 2014. The top-up clearly shows the Spanish government's commitment towards mass vehicle electrification, but we fear it could be pushing an immature market too early and too hard.

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