Latest News

Britain introduces $2 billion package for EVs

The British government will introduce a package worth 1.5 billion pounds ($2 billion) to speed up the switch to electric cars, according to reports. This includes an additional 1.3 billion pounds to fund a grant program to purchase new electric cars.

Since its launch in July of this year, the Electric Car Grant Scheme has helped over 35,000 drivers switch to an electric vehicle by reducing upfront costs up to 3,750 pound.

According to the government, an additional 200 millions pounds will be included in the budget due on 26 November to speed up the deployment of chargepoints throughout Britain.

In order to achieve a goal of net-zero emissions of greenhouse gases by 2050 in Britain, the country wants to phase out new petrol and diesel vehicles by 2030. The demand for EVs is stagnant, with consumers citing the high upfront costs of EVs as their main obstacle.

The Conservative Party, the opposition party, criticised this move.

Richard Holden is the Conservatives' Transport Policy Chief. He said: "Under Labour, ordinary families face increased taxes and spiralling prices, but the government gives discounts on new electric vehicles."

This is the type of tone-deaf spending that we have come to expect from this Labour Government. Reporting by Elizabeth Piper Editing Mark Potter

(source: Reuters)