Macron pledges electric-car leasing to wean drivers off gasoline

PARIS: Electric-car makers could get a boost in France from a campaign promise by Emmanuel Macron to make driving EVs more affordable.

The French president pledged to develop a state-sponsored EV leasing program for low-income households if he wins re-election next month.

The proposal was part of a 4-hour-long pitch to voters unveiled at a press conference last Thursday outside the capital.

The measure stands to benefit European carmakers rolling out new EV models including Renault SA and Peugeot and Citroen-maker Stellantis NV. The war in Ukraine and the steep jump in oil prices have put energy costs high among voter concerns.

Macron didn’t offer details on the leasing plan, but it would play into automakers’ strategies to promote long-term car rentals and sharing as the future of mobility.

The government already offers subsidies to buy EVs.

All polls show Macron leading the first and second rounds of the election that starts on April 10, and he is expected to win.

Lowering fuel costs for drivers is an important political theme for France’s president after his mandate was marred early on by months of violent protests — the so-called Yellow Vest movement — that was sparked by a proposal to raise a fuel tax.

In the wake of the Ukraine war, the French government has announced a rebate of 15 euro cents (67 sen) per litre on gasoline and diesel for four months starting April 1 at a cost of about €2 billion (RM9.2bil).