EST Loan Scheme Relaunched To Encourage Electric Taxi Switch
The Energy Saving Trust has announced the relaunch of the loan scheme aimed at encouraging Scotland taxi drivers to transition to an electric taxi or electric hackney cab.
The ‘Switched On Taxis Loan’, which is being funded by Transport Scotland, is an interest-free loan that can be repaid over six years.
It has been relaunched to help taxi drivers in Scotland's towards the purchase of a new or used electric vehicle for business use.
The loan covers different vehicles depending on whether you operate hackney cabs or private hire vehicles, with the maximum loan amount available to borrow being £75,000.
The Taxi Centre offers a wide range of electric taxis, helping to reduce running costs and meet clean air quality criteria.
This includes the LEVC TX Electric Taxi, which offers a pure electric range of 78 miles and a 1.5-litre petrol engine range extender for a total flexible range of 333 miles.
New Electric Taxis
If you operate in Scotland and are in the market to buy a new electric, wheelchair accessible, hackney vehicle, driven for public hire, the loan can cover the cost of purchasing a vehicle eligible under the taxi category of the UK OZEV plug-in grant list
If you want to buy a new non-purpose-built electric taxis vehicle, the loan can cover the cost of:
- electric cars (must cost £50,000 or less) – maximum loan amount £30,000 per vehicle
- electric vans (must cost £50,000 or less) – maximum loan amount of £35,000 per vehicle
- a new electric wheelchair accessible vehicle (eWAV) – maximum loan amount of £40,000.
(Cost caps include VAT).
Used Electric Taxis
If you operate in Scotland and you want to buy a used electric, wheelchair accessible, hackney vehicle, driven for public hire, the loan can cover the cost of purchasing one used, purpose-built, electric black cab (included in the UK OZEV Plug-in Grant list) up to a maximum loan amount of £50,000.
If you want to buy a used, non-purpose-built, electric taxis vehicle, the loan can cover the cost of:
- electric cars (must cost £30,000 or less) – maximum loan amount of £30,000 per vehicle
- electric vans (must cost £30,000 or less) – maximum loan amount of £30,000 per vehicle
- a used electric wheelchair accessible vehicle (eWAV) – maximum loan amount of £35,000
The scheme is only available to those who operate their taxi business in Scotland.
For more information, please contact:
Jordan Walker (Field Sales Manager) - East of Scotland
07710 376211
James Welsh (Field Sales Manager) - West of Scotland
07816 205728