In a bold move to help the ailing German automobile industry, the German government will be spending billions of euros on subsidies for electric cars most likely manufactured by the American electric vehicle maker Tesla Inc. (Germans don’t do electric cars).

Germany raised the incentives to buy electric cars and cut the sales tax on more fuel-efficient internal combustion engines (ICE), but increased taxes on gas guzzling SUVs and sports cars which will hit the profits of the big auto makers.

„Wumms“ für Tesla und Nel. Geldregen für Wasserstoff und E-Auto – Daimler und Co stehen im Regen.