New EV Grant Scheme to Slash £3750 Off Price of Electric Taxis
The price of a new electric taxi is to set to come down by a significant amount after the UK government announced a brand-new EV grant scheme with discounts of up to £3,750 being offered.
The new Electric Car Grant will apply to EVs priced £37,000 or less, a threshold that is set to feature as many as 50 models currently on sale, though the full list in-line for the discount will be published in the coming days.
Drivers who buy EVs priced at £37,000 or less will receive the full grant at the point of sale.
A secondary grant of £1500 will be applied to those that meet the price criteria but aren’t deemed green enough for the full amount. It is unclear as to which models this applies to.
The grant is part of a major £650 million total funding investment aimed at stimulated the electric car market, which – though growing – remains below the mandated targets established by the government.
As it stands, 1 in 5 (20 per cent) of all new cars sold in the UK are now electric, but the government had set a target of 26% by the end of 2025. It’s a target that will rise incrementally over the coming years until petrol-powered cars are removed from sale.
The move spells good news for the taxi industry and should provide an added incentive for drivers already considering an electric car amid a growing number of Clean-Air Zones being applied to cities (including London’s Ultra Low Emissions Zone or ULEZ) which apply charges to vehicles that travel within these borders but don’t meet emissions criteria.
Popular taxi models that are likely to meet the criteria for the new grant include the MG4, the Hyundai KONA EV and recently launched Kia EV3, though it may not include all trim levels.
Several other electric models are priced just above the £37,000 threshold, which might in turn prompt manufacturers to reduce the starting price of their models in order to meet this latest criterion.
Why Buy An Electric Taxi from The Taxi Centre?
Electric vehicles benefit from various grants and incentives ideal for taxi drivers. In addition to lower running costs, electric vehicles are exempt from congestion charges in Clean Air Zones (CAZ) and Low Emission Zones (LEZ) across the country.