Statement from (Finance Minister) Phillip Hammond has pledged more funds for electric vehicle charging infrastructure to ‘supports the transition to zero emission vehicles’. He also used the annual public spending statement opportunity to increase some taxes applying to diesel cars.
The fund is designed to help the deployment of the infrastructure needed to support the switch to cleaner cars and reduce pollution.
In addition, the government is investing an extra £100 million for plug-in car grants, to help subsidise the cost of buying a battery-electric vehicles to support consumers making the move to zero-emission transport.
This announcement is part of a wider £4 billion pot of funding that was announced on 20 November, which is pot to support the commercial development of new technologies.
Bad news for potential petrol and diesel drivers with an increase to the annual VED or Road Tax looming and earlier this year, the government announced a target to ban the sale of diesel and petrol engine cars and vans from 2040.
Dan Martin, CEO, Elmtronics “We couldn’t be happier with this news, its a very exciting time for the industry especially with more and more businesses turning to EV Charging. Technology is constantly improving and will improve massively over the next few years, battery levels are already seeing an improvement with the cost of lithium decreasing with demand allowing manufacturers to build larger battery packs. With the extra support from the government we will start to see more improvements in the industry.”