Governments across the globe are budgeting billions of dollars to help car makers develop technologies that improve efficiency and reduce emissions, a new survey by Deloitte Touche Tohmatsu’s global manufacturing industry group shows.
“Consumer demand for greener vehicles as well as new regulations will heavily influence the development and marketability of innovations in the automotive industry,” says Hans Roehm, DTT Global Manufacturing Industry Leader.
“Our analysis shows that the United States is leading in terms of economic stimulus and other government incentives with an estimate of US $27.4 billion directed towards alternative fuel technologies such as EVs.”
Incentives and government support range from tax breaks and cash bonuses for consumers, to subsidies for research and development projects.
The analysis shows that the global automotive industry is expected to benefit directly from an injection of around $105 billion in economic stimulus funds.
