Here’s what you need to know about the new electric vehicles grant
It’s been a long time since drivers were offered any kind of financial incentive for buying an electric vehicle, but that has all changed with the introduction of a new EV grant which launches on July 16.
At UK CarLine, we stock some of the very latest electric vehicles and this new grant looks set to make transferring into one even easier. But how does it work and what else do you need to know about it? We’ve got all of the details here.
How much does the grant bring?
The Department for Transport (DfT) has stated that eligible vehicles will get up to £3,750 off their list price under the scheme, making it easier for drivers to get behind the wheel of a new car.
Under the scheme, discounts will go from between £1,500 and £3,750.
Which vehicles are eligible?
The DfT says that the amount of funding available will depend on a car’s ‘sustainability criteria’. Essentially, this sees different cars put into different ‘bands’, with ‘band one’ being the greenest and the one eligible for that full £3,750 grant.
Band two vehicles, in contrast, will receive up to £1,500. However, the full details of how these bands and criteria will work have yet to be announced, so it’s currently unclear which cars will qualify for what discount. However, it is believed that the grant will only apply to vehicles costing under £37,500, which still leaves buyers with a lot of choice.
Heidi Alexander, Transport Secretary, 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.
“And with over 82,000 public chargepoints now available across the UK, we’ve built the infrastructure families need to make the switch with confidence.”
How has the car industry reacted?
There has been a positive reception to the news by the car industry, with Mike Hawes, chief executive at the Society of Motor Manufacturers and Traders (SMMT) saying: “Today’s announcement of the return of government support for the purchase of electric vehicles is a clear signal to consumers that now is the time to switch.
“Rapid deployment and availability of this grant over the next few years will help provide the momentum that is essential to take the EV market from just one in four today, to four in five by the end of the decade.”
Meanwhile, Edmund King, AA president, said: “We welcome this positive move to help boost the uptake of EVs. A grant of up to £3,750 is to be celebrated and we urge drivers to take full advantage of this offer.”
The grant is due to come into force shortly, but if you’d like to get behind the wheel of a new electric vehicle right away, then check out our current range here at UK CarLine.
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