"a blow for Tesla (TSLA), Volkswagen (VWAGY), BMW (BMWYY), Stellantis (STLA) and more."
I am sorry, but this can no longer be considered clickbait. This headline is just criminal.
No, the reason is a rulong by Germanys Verfassungsgericht (you might call it Germany's supreme court) making the repurposing of soke Covid related funds, which where used and planned to be used for various other things, illegal. Now the government is left with some significant budget shortages, cutting the EV subsidies is just one of the resulting saving actions.