Cost of Electric Vehicles in UK Rising, Due to Subsidies Ending
Michael Hatamoto / 3 years ago
The end of UK government subsidies will likely make it more expensive to drive an electric car than driving a traditional petrol-powered vehicle.
The installation and maintenance of electric chargers, which was overseen by the Department for Transport, ended in April – and now prices have gone up as local cities are working with private companies to increase support.
Current electric vehicle prices in the UK are about £8,000 more than petrol fuel or diesel, but the UK government has a £5,000 subsidy for residents – and helps install home-chargers for new vehicle owners.
There were almost 2,000 electric vehicles sold in the UK through the first five months of 2013, more than double than the time frame year-over-year. The industry is still growing, but if select government subsidies are not restored, then adoption will take a hit.
For success of electric vehicle adoption, offering monetary compensation, tax breaks, and other perks, which has helped drive growth in the United States, Norway, and other select markets. Without these added incentives, consumers are less likely to spend money on a vehicle with limited range – and price tags that aren’t simply appealing enough quite yet.
Thank you to BBC for providing us with this information
Image courtesy of Green Auto Blog