Germany is going electric in a big way. The government announced this week that it’s pouring 1 billion Euros in subsidies over the next two years to help develop the electric car industry.

Chancellor Angela Merkel announced she wants the country to become the world leader in electromobility with a million electric cars zooming around the roads in Germany by the year 2020.

And what’s more, the government is thinking about creating incentives for people who buy electric cars, like special parking and fast lanes as well as tax breaks. And it looks like the big carmakers will step up to the challenge. BMW is planning to release its an all-electric urban car – called the ActiveE – by 2013, and Audi, too, plans to unveil a series of electric cars.

Is electromobility the future of the auto industry? How long will it take for electric cars to dominate the roads? Tell us what you think!