France launches 'Social Leasing' program for EVs at $43/month

French residents must have an annual income of less than 15,400 euros to qualify for the 'social leasing' program.

According to reports, in a bid to make EVs more accessible, France has launched a new "social leasing" program, which allows electric cars to be leased by low-income drivers for as low as 40 euros per month. The lease program doesn't have any down payment & offers free charging for up to six months.

Emmanuel Macron, President of France, announced the program back on October 22 with a target lease payment of 100 euros per month for low-income drivers. However, automakers have managed to bring the price down even further. Low-income drivers in the country can now lease vehicles like the Renault Twingo e-tech for as low as 40 euros a month, which includes maintenance, assistance and recharging for the 1st six months. The Citroen eC3 can be leased for 54 euros, Fiat 500e for 89 euros, the Peugeot E-208 for 99 euros and the Opel Corsa-e at 94 euros per month.

Reports state that French residents must have an annual income of less than 15,400 euros to qualify for the 'social leasing' program. Also, they must travel more than 8,000 km per year and live at least 15 km away from their workplace. Eligible drivers will get a three-year lease contract with the option to purchase at the end. The contract also covers insurance costs & cancellations in the event of unemployment, disability or death.

France recently also updated their tax incentive scheme, pushing buyers towards EU-made cars and away from Chinese vehicles.

Source: Electrek