Various schemes are available for drivers who are interested in investing in an electric car, including the Plug-in Grant, the Homecharge Scheme and salary sacrifice schemes. In a bid to get more drivers to switch to cleaner vehicles, the Government, as well as motoring organizations offer money-off schemes towards vehicles or EV infrastructure, like home chargers.
The Plug-in Grant is a Government scheme which allows drivers to get a discount of up to £1,500 off a low emission car, van, taxi, truck and other vehicle types.
To be eligible for the grant, the car must have a recommended retail price of less than £32,000, including VAT and delivery fees.
The grant will pay for 35 percent of the purchase price for these vehicles, up to a maximum of £1,500.
By bringing down the upfront investment, it is hoped that drivers will feel confident purchasing an EV, and will bring EVs to parity in comparison with petrol and diesel vehicles.
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“As we get nearer to the 2030 ICE ban, the Government must focus on investing in the public charging infrastructure, as a route towards relieving range anxiety.
“Perhaps the most valuable outcome of the Government’s incentives so far is that they communicate electric vehicles as a priority.
“As the Government invests more resources in EVs and more drivers make the switch, the rest of the British public must take notice, and consider how an EV could suit their needs.”
The grants are also there to challenge fears that some drivers may have with range anxiety through the Homecharge Scheme.
With this, drivers can install an EV charger on their home with a grant that provides a 75 percent contribution to the cost of one charge point and its installation, capped at £350.
Despite many protests, the scheme is coming to an end at the beginning of April for homeowners who live in single-unit properties such as bungalows and detached, semi-detached or terraced housing.
It will remain open to homeowners who live in flats and people in rental accommodation like flats and single-use properties.
EV fleet registrations currently account for nearly 50 percent of all EV registrations in 2021 in the UK.
Many companies have already introduced EVs into their fleet make-up, giving drivers a taste of what it’s like to drive electric, oftentimes through salary sacrifice schemes.
Mr Walters continued, saying: “Incentives like salary sacrifices are an important way for businesses to encourage employees to make the switch as it offers a cost-effective path to ‘ownership’, this financial support helps to break down the barrier of cost to EV adoption.
“Zero emission vehicles remain an attractive option with the Government’s Benefit In Kind scheme keeping their company car tax low at one percent.
“But it should be noted that this tax will increase to two percent in April.”