Update: Plug in Grant Changes
As of 7am today (Thursday 18th March 2021), the government has made changes to the plug-in grants available for electric vehicles. As part of this, the grant for electric cars (PICG) has been reduced from £3,000 to £2,500 and restricted to cars priced under £35,000. This means popular electric cars such as the Tesla Model 3 now won’t be eligible for the grant, unlike previously. In terms of vehicle models, only variants or trim levels where the price is below the cap will be eligible for the grant. These changes came into immediate effect and at short notice.
Changes have also been made with cuts to the Plug-in Van Grant (PIVG) and the Plug in Truck Grant (PITrG). This means plug-in van customers will now receive 35% of the purchase price for small vans, up to a maximum of £3,000 and 20% of the purchase price for a large van, up to a maximum of £6,000. The plug-in truck grant has also been cut with a reduction of £4,000. This means the new grant covers 20% of the purchase price, up to a maximum of £16,000. Eligibility criteria also applies for these grants.
Transport minister Rachel Maclean said, "The increasing choice of new vehicles, growing demand from customers and rapidly rising number of chargepoints mean that, while the level of funding remains as high as ever, given soaring demand, we are refocusing our vehicle grants on the more affordable zero emission vehicles – where most consumers will be looking and where taxpayers’ money will make more of a difference."
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At GB Vehicle Leasing, our pricing team are working hard to amend the pricing on our website to reflect these changes. Our electric car lease deals should be updated shortly. In the meantime, if you’re interested in leasing an electric car, please contact our EV specialists on 0161 667 5338 and we’ll be happy to discuss this with you in further detail.