The government is rolling out a new £650 million grant scheme, helping speed up access and cut costs for drivers and businesses for electric cars.
Through the Electric Car Grant, discounts of up to £3,750 will be available at the point of sale for new eligible electric cars that are priced at, or under, £37,000. As soon as manufacturers successfully apply for their zero emission cars to be part of the grant scheme, drivers will begin to benefit, with funding available through until the 2028 and 2029 financial year. Eligibility is dependent on the highest manufacturing sustainability standards.
According to the government, the grant helps narrow the upfront cost between petrol and electric vehicles, paving the way for thousands more drivers to benefit from savings of up to £1,500 a year when owning and operating an electric car.
Transport Secretary, Heidi Alexander, said: “This EV grant will not only allow people to keep more of their hard-earned money – it’ll help our automotive sector seize one of the biggest opportunities of the 21st century.”
