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The UK has made steady progress with electric vehicles with over 495,000 ultra-low emission vehicles now on the road across the country, driven by the government’s Road to Zero strategy.
Despite the effects of the coronavirus lockdown, the Society of Motor Manufacturers and Traders announced sales of electric and hybrid car sales hit record level in March as demand for greener vehicles surged.
The growing demand for electric vehicles comes as the government plans to implement a ban on selling new petrol, diesel or hybrid cars in the UK from 2030. Further announcements include a significant tax benefit for company car drivers and fleet operators, there was zero tax on Benefit in Kind (BIK) during 2020/2021, increasing to only 1% in 2021/2022 and 2% in 2022/2023.
This combined with 100% first year capital allowances, road tax exemptions and lower running costs presents a solid case for businesses looking to save costs whilst increasing their environmental credentials.
With forecasts predicting that 69% of passenger car sales and 57% of light commercial vehicle sales will be battery electric or plug-in hybrid vehicles by 2030, significant infrastructure needs to be built, installed and maintained. Economic research consultancy Capital Economics have estimated that the country needs 25 million electric vehicle chargers by 2050, meaning that 2,300 charging points need to be installed every day for the next 30 years.
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