U.K. To subsidise The Electric Car Market


The British government is joining the global bandwagon of governments offering to subsidise the purchase of electric cars, saying it will offer $2,998 to $7,495 to consumers who purchase a hybrid or an electric. The government is still working out how the discount will be administered–as a rebate or tax credit, etc.

This subisdy is part of a larger U.K. effort to usher in the era of low emission autos. In total, the government plans to lay out $372 million to support electrics and hybrids, in including $29 million for charging stations.

There will be plenty of auto companies benefiting from this news. Jaguar already secured $450 million from the government to develop plug-in hybrids. Another winner could be Coulomb Technologies, the California based charging station start up that says its growing quickly in Europe. Coulomb says the average cost for a charging station is $3,000, so the British government could potentially install 9,666 charging points, if it uses that money wisely.


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