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Electric vehicle (EV) drivers will be able to purchase new cars with a £3,750 discount, the Government has announced.
From today (16 July), car manufacturers can apply for the Electric Car Grant, which will reduce the price for drivers switching or upgrading to more environmentally friendly cars.
Drivers can use the discount for motors priced at or under £37,000, the Department for Transport (DfT) confirmed.
The discount hopes to boost the number of EV owners until the 2028/29 financial year and save drivers “up to £1,500 a year on fuel and running costs”, compared to a petrol car.
Two in five used electric cars were sold below £20,000 and over 30 EVs entered the market for under £30,000, according to the DfT.
The cash injection into manufacturing electric cars follows Government funding for charging infrastructure worth £63m.
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There will be more at-home charging for households without driveways created and thousands of chargepoints at business depots in the UK.
‘Make the switch with confidence’
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.”
Alexander added: “This is our Plan for Change in action. We’re backing British drivers, British jobs and British growth.”
Simon Williams, the RAC’s head of policy, said: “Within weeks, discounted cars should start appearing at dealerships across the country. And, as the biggest savings will be given to cars with the strongest ‘green’ manufacturing credentials, drivers will be picking models that are not only better for their wallets, but better for the planet too.
“This is further welcome news following last week’s announcement about more funding for pavement gully charging solutions that will enable those without driveways to charge an EV at home. Together, these initiatives should mean more drivers than ever start benefitting from the lower costs of running an electric car.”
Dan Caesar, CEO of Electric Vehicles UK, added: “A generous grant of this nature gives a new group of interested buyers, who might have thought that going electric was beyond them, a gentle nudge into what is great tech. More than nine out of 10 battery EV drivers will never revert, and there’s a reason for that.”
