Want to drive an electric car? £2.5m is up for grabs

Funding worth £2.5 million is available for Scottish motorists who wish to drive plug-in hybrid and electric vehicles (EVs). Householders can apply for interest-free loans of up to £50,000 and […]

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By Priyanka Shrestha

Funding worth £2.5 million is available for Scottish motorists who wish to drive plug-in hybrid and electric vehicles (EVs).

Householders can apply for interest-free loans of up to £50,000 and businesses up to £100,000 for green cars and vans under the Electric Vehicle Loan scheme.

The Energy Saving Trust said the loans, funded by the Scottish Government, can cover 100% of the purchase price and can be repaid over a period of up to six years.

It claims EVs cost around 3p per mile to run compared to around 15p per mile for the average petrol car and no road tax is charged.

Scottish Transport Minister Derek Mackay said: “Encouraging mass changeover to electric vehicles, from more polluting ones running on petrol or diesel, is a key to cleaner road transport in Scotland and a fundamental factor in achieving our ambitious climate change targets while also improving local air quality.

“Electric vehicles already offer large savings to drivers through reduced fuel and taxation costs and this fund will further encourage new buyers by addressing the current cost premium often cited as a barrier to making the switch.”

The new funding is provided in addition to the UK Government’s existing Plug-In Car and Van Grant scheme, which offers up to £5,000 for those buying a new electric car and £8,000 for a van.

A new report suggested charging points without cables could be introduced in the EV market in two years.