Electric Cars Grants & Incentives
Government Grants and Incentives
Electric vehicles have become increasingly popular in recent years, with record-breaking sales in 2021. Like traditional vehicles, the ownership cost of an EV can vary depending on the make, model, and specifics of the vehicle. Thankfully, EVs offer very affordable options, and there is an EV suited for everyone.
Great news - electric vehicles are likely to cost loss over the course of ownership, when compared to traditional vehicles.
There are several grants, incentives and Tax benefits in place to encourage the uptake of Electric Vehicles. We have listed some incredible EV ownership savings.
You can get a discount on the price of brand new low-emission vehicle through a subsidy provided by the UK Government. The grant is eligible to new electric cars with a list price of £35,000 or under and the Government will fund up to £2,500 off the cost of a new car, whether that is purchased outright or leased.
The Electric Vehicle Homecharge Scheme (EVHS) also provides grant funding of up to £350 towards the cost of installing an EV charge point at a domestic property across the UK. And for Scottish residents it’s even better news as Energy Saving Trust Scotland will also provide a further £250 support towards the installation.
- Due to their low CO2 output, electric cars are also subject to lower road tax compared to cars with an internal combustion engine. Fully electric cars are subject to lowest road tax banding meaning you currently pay nothing if you drive a zero emission vehicle. The majority of Plug-In Hybrid Electric Vehicles (PHEV) are eligible to either £10 or £25 road tax in the first year, dependant on CO2 emissions, but this will increase to either £145 or £490 in the second year based on whether the value of the car is over or under £40,000.