Biofuel cars in general get strong tax incentives in France, including a 0 or 50% reduction on the tax on new vehicles, and a 40% reduction on CO2 tax for new cars. For company cars there is a corporate car tax free for 2 years and a recovery of 80% of the value added tax (VAT) on E85 vehicles. Also, E85 fuel price is set significantly lower than diesel or gasoline, resulting in E85 at € 0.80, diesel at €1.15, and gasoline at €1.30 per liter, as of April 2007. By May 2008, France had 211 pumps selling E85, even though the government made plans for the installation of up to 500 E85 pumps by year end 2007. French automakers Renault and PSA (Citroen & Peugeot) announced they will start selling FFV cars beginning in the summer 2007.