German gov't approves EV tax relief amid worsening industry sentiment

BERLIN, Sept. 4 (Xinhua) -- The German government decided to introduce tax benefits for electric vehicles (EVs) on Wednesday, aiming to counter sluggish sales in the emerging industry and offer more purchasing incentives.

The federal government's tax reductions are estimated to total 585 million euros (649 million U.S. dollars) next year and could increase to 650 million euros by 2028, when the aid is set to exp