Government Introduces Plan to Cut Electric Car Costs
(MENAFN) The cost of certain new electric vehicles is set to decrease by as much as £3,750, thanks to a new grant initiative rolled out by the government.
The program is aimed at persuading motorists to shift away from petrol and diesel-powered transportation.
According to the Department for Transport (DfT), the incentives will be available for qualifying cars priced at £37,000 or less, with the most eco-friendly options benefiting from the highest discounts.
Carmakers can begin submitting applications for the funding starting Wednesday. RAC stated that consumers can expect to see these lower-priced vehicles in showrooms "within weeks."
However, some drivers have previously expressed to a news agency that an increase in public charging infrastructure is essential to motivate wider adoption of electric vehicles (EVs).
This grant initiative aligns with the government's earlier commitment to prohibit the sale of new petrol and diesel-only vehicles by 2030.
Under the new scheme, the discounts will vary between £1,500 and £3,750. Manufacturers must apply for each car model to be considered, and approvals will be given on a first-come, first-served basis.
Once a model receives approval, the automaker will subtract the grant amount directly from the vehicle’s price. As a result, customers will only see the adjusted price at the dealership and will not need to take any further steps to receive the discount.
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