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Buyers can currently save thousands with the Government electric car grant scheme set up to boost EV sales but it is set to end in the spring.
The UK Plug-in Car Grant (PiCG) will currently pay 35% of the purchase price of a new EV, up to a maximum of £3,500. Under the current deal, you don’t even need to apply for the electric car grant as the dealer will include the value of it in the vehicle’s price on the forecourt.
The grant currently covers all forms of EV: cars, motorcycles, mopeds, vans, taxis and large vans and trucks.
Many models qualify for the Government grant
The Government has an approved list of 30 vehicles which can qualify for the electric car grant including the Audi e-tron, BMW i3 and i3s, the Hyundai IONIQ Electric, KONA Electric & NEXO, Jaguar I-PACE, Kia e-Niro & Soul EV, the Mercedes B-Class Electric Drive & eVito Tourer, MINI Electric, Nissan e-NV200 (5-seater and 7-seater) & LEAF, Porsche Taycan, Renault ZOE, Smart EQ fortwo & Smart EQ forfour, Tesla Model S, Model X & Model 3 and VW e-up & e-Golf.
Motoring experts anticipate fresh incentives will be put in place come March 1 2020 but to date, there has been no official confirmation on whether the PiCG will continue unchanged, be modified or even scrapped, come deadline day.
‘We can’t force people to buy electric cars’
Mike Hawes, chief executive of the Society of Motor Manufacturers and Traders, said: “The Government is committed to tackling climate issues. Our industry is committed to playing its part too, but while it can supply the vehicles, it can’t force demand for them.”
He said incentives – such as the Government’s electric car grant – are a crucial part of persuading people to make the switch to an EV.
Car makers face substantial fines if they don’t hit tough new emissions targets by the end of the year — that raises the pressure on manufacturers to come up with their own discounts and incentives to bolster sales if PiCG is scrapped.
Through the Office of Low Emission Vehicles (OLEV), the Government also currently offers financial incentives — up to 75% of the installation costs — for the fitting of home EV charging points.
EV insurance that won’t shock you
Some may still steer clear of buying electric for fear of getting a shock with the cost of insurance, but that needn’t be the case.
Adrian Flux has always been at the forefront of providing great value insurance for the latest automotive innovations. Adrian Flux electric car insurance is no exception.