Russian Government Increases Investment for Electric Vehicles
The plan envisages an investment of $10.5Bln by 2030.
Updated:
Anton Kardashov / Moskva News Agency
The Russian government plans to invest 777 billion rubles ($10.5 billion) into electric and hydrogen vehicle development by 2030, according to documents obtained by the Vedomosti news outlet.
In the next nine years Russia’s electric vehicle (EV) share of the auto market could grow from 0.05% to 15%, officials at the Ministry of Economic Development said. By 2030 there could be 1.5 million EVs on Russian roads, supported by 20,000 new charging stations, according to the plan.
Last week ministry officials said they planned to invest $5.5 billion into EV development, according to the Kommersant news outlet. But now Vedomosti reporters claim that they’ve seen a new version of the plan, and in that version the government aims to invest $10.5 billion, almost twice as much. The plan allocates $1.7Bln of it to the development of hydrogen-powered vehicles.