"The EU's five biggest members spend 42 billion euros ($45.60 billion) annually subsidizing fossil-fuel company cars, according to a study commissioned by environmental group Transport & Environment (T&E), which called for more subsidies for EVs instead.
Company cars make up around 60% of new car sales in Europe.
Italy provides 16 billion euros in subsidies for fossil-fuel company cars, followed by Germany, which provides 13.7 billion euros, the study by consultancy Environmental Resources Management (ERM), released on Monday, showed."
Source: Reuters, 10/22/2024
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