<p>President Emmanuel Macron on Tuesday announced an eight billion euro ($8.8 billion) plan to revive France's auto industry by making it the European leader in electric cars, boosting a sector brought to its knees by the coronavirus.</p>.<p>Macron said the package would include one billion euros in subsidies to encourage purchases of electric and hybrid cars and set a target of France producing a million green cars annually by 2025.</p>.<p>The "historic" intervention will aim to turn France's rechargeable car industry into Europe's biggest, the president said.</p>.<p>Visiting a car factory in Etaples in northern France, Macron said his government would seek to boost flagging customer demand with a subsidy of 7,000 euros for each individual buying an electric car, 5,000 for each company purchase, and 2,000 per hybrid rechargeable car.</p>.<p>Starting June 1, there would also be an aid of 3,000 euros for converting from a petrol-fuelled car to a less-polluting one -- and as much as 5,000 euros to upgrade to an electric vehicle, the president said.</p>.<p>He said that some three-quarters of French people would be eligible for the incentives.</p>.<p>"In total, the state will provide a bit more than 8 billion euros in aid to the sector," said Macron.</p>
<p>President Emmanuel Macron on Tuesday announced an eight billion euro ($8.8 billion) plan to revive France's auto industry by making it the European leader in electric cars, boosting a sector brought to its knees by the coronavirus.</p>.<p>Macron said the package would include one billion euros in subsidies to encourage purchases of electric and hybrid cars and set a target of France producing a million green cars annually by 2025.</p>.<p>The "historic" intervention will aim to turn France's rechargeable car industry into Europe's biggest, the president said.</p>.<p>Visiting a car factory in Etaples in northern France, Macron said his government would seek to boost flagging customer demand with a subsidy of 7,000 euros for each individual buying an electric car, 5,000 for each company purchase, and 2,000 per hybrid rechargeable car.</p>.<p>Starting June 1, there would also be an aid of 3,000 euros for converting from a petrol-fuelled car to a less-polluting one -- and as much as 5,000 euros to upgrade to an electric vehicle, the president said.</p>.<p>He said that some three-quarters of French people would be eligible for the incentives.</p>.<p>"In total, the state will provide a bit more than 8 billion euros in aid to the sector," said Macron.</p>