Autumn Budget to commit another £1.5bn to EV transition
The government is expected to commit a further £1.5bn to support the UK’s transition to electric vehicles in the Autumn Budget.
It will announce £1.3bn to extend the Electric Car Grant by a further year, with another £200m dedicated to developing the UK’s public charging network.
More than 35,000 drivers have so far taken advantage of the Electric Car Grant since it was launched in July, with the Society of Motor Manufacturers and Traders reporting that 26.5% of cars sold in August were electric.
Year-to-date, electric vehicles have made up 22.4% of new car sales, which is still short of the 28% stipulated by the ZEV Mandate.
Substantial boost
Ian Plummer, commercial director, Auto Trader, said: “This substantial boost to the Electric Car Grant and charging infrastructure is exactly the kind of decisive action needed to accelerate mass EV adoption. We’ve seen firsthand the impact the current grants have had on eligible models, with some seeing over a 100% uplift in consumer interest on Autotrader.
“Cutting upfront costs and expanding reliable public charging will give more drivers the confidence to make the switch, while also providing a welcome lift for the UK’s electric vehicle market. Today’s announcement is a clear signal that the transition to zero-emission driving remains firmly on track.”
