What is the ‘plug in grant’ on electric vehicles?
The UK government has closed the plug-in car grant scheme to new orders. This follows a public evaluation report highlighting that while the grant was vital in building the early market for electric vehicles, it has since been having less of an effect on demand.
Other existing price incentives, such as company car tax, continue to have an important impact. The report also found the plug-in van market will benefit from grant incentives more to support businesses and their fleets in making the switch.
How much is the plug in car grant?
To continue the UK government’s drive towards net zero, £300 million in grant funding will now be refocused towards extending plug-in grants to boost sales of plug-in taxis, vans and trucks, motorcycles and wheelchair accessible vehicles, as announced in the autumn statement.
Discover how the ‘plug in grant’ could affect you and your business. Simply, contact us today, we can look to offer individual business advice and look at the best choices to save money and benefit from grant incentives.