The government will spend £650 million on the discount scheme, which will be available from Wednesday to consumers once carmakers sign up for the scheme.
Transport Secretary Heidi Alexander has unveiled a grant for people who buy electric vehicles. (Picture: Dan Kitwood/Getty Images)
But demand for electric cars has stalled, with consumers citing high upfront costs as the main barrier.
The scheme follows calls from the automotive industry for EV incentives, as carmakers effectively need to sell more EVs each year to meet emissions targets, or pay fines.
A number of European countries including Norway, which has the highest percentage of electric cars in Europe, as well as France and Germany offer incentives for EV buyers including subsidies and exemption from taxes.
Ginny Buckley, chief executive of advice website Electrifying.com, said nearly one in two electric models will be cheaper thanks to the “long overdue” incentives.
By contrast, carmakers had spent around £6.5 billion on electric car discounts since the government’s EV sales targets were introduced at the start of 2024, Society of Motor Manufacturers and Traders CEO Mike Hawes told reporters last month.
With Reuters
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