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IPFS News Link • Transportation

The UK Is Slashing EV Grants Once Again

• https://www.zerohedge.com by Tsvetana Paraskova

"Soaring demand for EVs leads to refocusing of grants on the most affordable zero-emission cars, making best use of taxpayer money," the UK government said on Wednesday, announcing the changes to its EV incentive policies, the second major change in less than one year.The grant for EVs is now slashed by 40 percent and limited to buyers of electric cars priced below $42,420 (£32,000). The grant is up to $1,988 (£1,500) for electric cars priced under £32,000, with currently around 20 models on the market, the UK government said today.

The previous grant for electric vehicles was up to $3,313 (£2,500) for cars priced under $46,390 (£35,000).  

The up to £2,500 grant was introduced in March 2021, when the UK government cut the grant from $3,976 (£3,000), and incurred the criticism of Society of Motor Manufacturers and Traders (SMMT), which said that it was "the wrong move at the wrong time."


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