Scotland invests £2.5m to boost EV use

Scotland has announced a £2.5 million (EV) fund to encourage people to buy low carbon cars. The Electric Vehicle Loan offers Scottish motorists interest-free funds which can cover 100% of the […]

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By Jacqueline Echevarria

Scotland has announced a £2.5 million (EV) fund to encourage people to buy low carbon cars.

The Electric Vehicle Loan offers Scottish motorists interest-free funds which can cover 100% of the cost of an EV or plug-in hybrid cars of up to £50,000.
Businesses can also apply for an interest-free loan of up to £100,000 under the scheme.

The announcement follows an EV rally from Glasgow to Stirling which took place on Saturday.

The 60-mile drive cost each electric car around £1.50 – compared to approximately £9.00 for a petrol vehicle, according to the Scottish Government.

Scottish Transport Minister Derek Mackay said: “The recent launch of the £2.5million EV loan fund means we’re enabling even more people than ever before to make the switch and buy one – saving money, reducing emissions and making our communities greener, cleaner and healthier.”

Applications for a share of the loan close on 31st March 2016.