However, Nicholas Teller, the board member in charge of corporate banking, says there has been little demand so far from eligible companies.

ECONOMIST: Financing Germany's Mittelstand

The cabinet member in charge of finances, Councillor Bill McClements, said it would mean an average increase of 32p per household per week.

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The only exception, said Ulrich Hackenberg, board member in charge of VW Brand development, will be vehicles that are defined by their peculiar architecture.

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