What grants are available for EVs?

Purchasing an electric vehicle or equipment that helps charge your vehicle can be expensive.

Not only do you have to consider the cost of your car, the cost of the chargepoint or the cost of labour to install said charge point, but you also have to consider the cost of repair and maintenance, just like any other appliance in your home.

How can this cost be reduced on your end? As a consumer, you are always looking for the best deal available and electric vehicles aren’t exactly cheap at the moment.

As part of a government scheme to promote the purchase and use of electric vehicles and hybrids, there is a grant called the OLEV grant; from the Office of Low-Emission Vehicles. This grant’s details can be found here: https://www.gov.uk/plug-in-car-van-grants 

“You can get a discount on the price of brand new low-emission vehicles through a grant the government gives to vehicle dealerships and manufacturers.” – from the Official Government Website.

What does this grant offer, exactly? Well, first of all, there are a few requirements that you will need to meet in order for you to be eligible for this grant. There are lists of vehicles that you would be required to own, which can be found in the link above. These can be within any of the 7 main categories of vehicle; car, motorcycle, moped, small van, large van, taxi and truck.

The OLEV grant allows for a discount on the price of a brand-new low-emission vehicle. This grant is given to the dealership or manufacturer and can be returned to the customer as part of cashback. You shouldn’t need to do anything when purchasing your new vehicle as the dealer should include the value of the grant in the vehicle’s price. The grant will pay a different percentage for each vehicle type. 

For cars, you can be eligible for up to 30% (with a maximum of 2,500.00). For motorcycles and mopeds, you can be eligible for up to 20% (with a maximum of £1,500.00). Small vans can grant you up to 35% (with a maximum of £3,000.00), and large vans can get you 35% (up to £6,000.00). Taxis can get you 20% (up to £7,500.00) and Trucks can get a grant that covers 20% of the purchase price (up to a maximum of £16,000.00).

There are also grants for vehicle chargers themselves, through the EVHS (Electric Vehicle Homecharge Scheme) which can get you up to £350 (including VAT) off the cost of installing a charger at home.

These grants should help bring the prospect of purchasing and maintaining an EV far closer to reality. As the industry grows, EV’s are becoming more and more affordable. This means it won’t be long before these grants are no longer available to the public and consumers. 

At Bumblebee, we aim to make the transition from fossil-fuel to electric simple and easy! If you are interested in purchasing an EV or a ChargePoint, browse our website for more information!