UK Launches New Electric Car Discount Scheme: Boost for EV Market
The UK government announces a discount scheme for electric car buyers, providing up to £3,750 savings for cars priced under £37,000. With an investment of £650 million, the initiative aims to align with net-zero goals and boost EV sales by reducing high upfront costs.
The British government has unveiled a new incentive program aimed at promoting the adoption of electric vehicles. Starting Wednesday, consumers can avail themselves of discounts up to £3,750 on electric cars priced below £37,000, provided that carmakers participate in the initiative.
Transport Secretary Heidi Alexander emphasized the dual benefits of the grant, allowing buyers to save money while helping the automotive sector meet the challenges of the 21st century. The move follows calls from industry players for more robust EV incentives.
This latest effort replaces a previous scheme and comes amid broader European trends encouraging EV adoption through financial incentives. With a £650 million budget extending through 2028/29, the UK aims to stimulate EV sales as part of its ambitious climate targets.
(With inputs from agencies.)
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