New German Government to Revamp Incentives for Electric Cars

New Volkswagen ID.4 electric vehicles are ready for delivery at the automaker's customer center in Wolfsburg, Germany, on March 26, 2021. RONNY ARTMANN/AFP/GETTY IMAGES
New Volkswagen ID.4 electric vehicles are ready for delivery at the automaker's customer center in Wolfsburg, Germany, on March 26, 2021. RONNY ARTMANN/AFP/GETTY IMAGES
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New German Government to Revamp Incentives for Electric Cars

New Volkswagen ID.4 electric vehicles are ready for delivery at the automaker's customer center in Wolfsburg, Germany, on March 26, 2021. RONNY ARTMANN/AFP/GETTY IMAGES
New Volkswagen ID.4 electric vehicles are ready for delivery at the automaker's customer center in Wolfsburg, Germany, on March 26, 2021. RONNY ARTMANN/AFP/GETTY IMAGES

Germany's new government said Monday it is extending the country's current system of incentive payments for buyers of electric and hybrid cars for a year but then plans to impose tougher requirements for vehicles to qualify for the support.

The economy and climate ministry that was set up when Germany's new government took office last week said it will only provide payments starting in 2023 for “electric vehicles that demonstrably have a positive climate-protection effect.”

Meeting that requirement will be based, in part, on a minimum distance cars can travel under electric power, The Associated Press.

For the next year, the current system will still apply, making buyers of electric-only cars eligible for incentives of up to 9,000 euros (about $10,200) and qualifying buyers of plug-in hybrids for up to 6,750 euros.

Robert Habeck, Germany’s new economy and climate minister, said the government is trying to ensure "continuity” while it works on a new system.

“We will become more ambitious with support in the future, in order to boost electromobility further and strengthen climate protection," he said.

Habeck is a co-leader of the environmentalist Green party. He is also vice chancellor in the three-party government of center-left Chancellor Olaf Scholz, which took office Wednesday.

The new government wants to have at least 15 million fully electric cars on the road by 2030. It also aims to step up efforts against climate change by expanding the use of renewable energy and bringing Germany’s exit from coal-fired power forward from 2038, “ideally” to 2030.



Nvidia Closes $700 mln Run:ai Acquisition after Regulatory Hurdles

A view of a Nvidia logo at their headquarters in Taipei, Taiwan May 31, 2023. (Reuters)
A view of a Nvidia logo at their headquarters in Taipei, Taiwan May 31, 2023. (Reuters)
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Nvidia Closes $700 mln Run:ai Acquisition after Regulatory Hurdles

A view of a Nvidia logo at their headquarters in Taipei, Taiwan May 31, 2023. (Reuters)
A view of a Nvidia logo at their headquarters in Taipei, Taiwan May 31, 2023. (Reuters)

Chipmaker Nvidia has completed its acquisition of AI firm Run:ai, the startup said on Monday, following antitrust scrutiny over the buyout.

The European Commission granted unconditional approval to Nvidia's $700 million bid for Run:ai, which helps developers optimize infrastructure for AI, earlier in December after saying in October that the deal would require EU antitrust clearance.

The EU antitrust watchdog had warned that the deal threatened competition in the markets where the companies operate.

Its probe into the deal focused on practices that could strengthen Nvidia's control over the market for graphics processing units (GPUs), which are the sought-after chips often employed in AI-linked tasks, Reuters reported.

Nvidia dominates the market for AI graphics processors and commands about 80% of its share.

However, the European Commission concluded earlier in December that Run:ai's acquisition, originally announced in April, would not raise competition concerns.

The US Department of Justice is also investigating the chip giant's buyout of Run:ai on antitrust grounds, Politico had reported in August.

Regulators on both sides of the Atlantic have recently stepped up their scrutiny of tech giants' acquisitions of startups on concerns that such deals may shut down potential rivals.

Run:ai plans to make its software open-source, it said in a blog post.

"While Run:ai currently supports only Nvidia GPUs, open sourcing the software will enable it to extend its availability to the entire AI ecosystem," it said.