Russia’s Economy Ministry said earlier today that it has plans to utilize subsidy programs to boost the manufacturing and purchase of locally-built electric vehicles. The program could stimulate the economy and provide a surge to local manufacturing efforts, despite being a region that has long supported and depended on oil and gas.
Just 11,000 of the over 45 million vehicles driven in Russia last year were electric, with most being used cars. However, Russia plans to expand the potential market share of electric vehicles by introducing state-sponsored subsidy programs that could offer consumers tasty incentive packages to drive sustainable vehicles.
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