Germany forces more than 1,000 Tesla owners to forgo electric auto bonus

Tesla Model S buyers in Germany asked to pay back €4,000 EV incentive

Germany's Federal Office for Economic Affairs and Export Control said 1,050 owners of a Tesla Model S will be forced to forgo a 2,000 euro electric auto subsidy because the value of their vehicles had surpassed an eligibility threshold.

Around 800 owners will be responsible for the sum after the agency declared the Model S is too expensive and does not meet the "environmental bonus" guidelines, Bloomberg reported Wednesday.

The federal office for economic affairs and export control said only vehicles costing €60,000 or less qualified for Germany's "environmental bonus", meant to encourage the purchase of electric cars. BAFA said it tried to negotiate the matter with Telsa over the past few months but failed to agree on a deal.

Benefits in Germany applied only to electric vehicles that cost no more than €60 thousand Is the price of the Tesla Model S as standard. It also added that "all Tesla customers who purchased the Tesla Model S before March 6, 2018" will have to pay back the €4,000 incentive. Tesla, in turn, intends to appeal the decision in court, and the expenses of their clients.

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German customers have always been able to order a base version Model S that met the qualification threshold, and such cars were delivered to customers, Tesla said.

"We are appealing [the German government's] decision to take this action against our pre-March 2018 customers". Additionally, it will cover any affected customer's refund cost until the situation is settled.

Shares of Tesla (TSLA) gained 0.36 percent on Wednesday to close at 323.85.

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