The U.K. is adding £200 million to its EV discount program, which will extend the £5,000 new vehicle credit for an three additional months to February 2016.
Previously set to run out this fall, U.K. government officials said they are expanding the rebates to spur more sales of low emission vehicles.
“The U.K. is now the fastest growing market for electric vehicles in Europe,” said Transport Minister Andrew Jones. “We will continue to invest to help make this technology affordable to everyone and to secure the U.K.’s position as a global leader.”
The original discount was made for 50,000 buyers, awarding £5,000 ($7,711) for the buy www.rawvehicle.com of what the U.K. marks as ultra low emission vehicles (ULEVs). This assemble initially included only battery electric (BEVs) plug-in hybrid vehicles (PHEV), but has since been expanded to fuel cell vehicles as well.
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With the additional £200 million ($308 million) for the fund, these grants are now expected to last through February next year. According to Auto Express, the country has already seen positive progression from the grant.
“In the first half of 2015, sales of plug-in vehicles escalated dramatically with a 256 percent progression against the same period in 2014,” Auto Express reported. “By June, ULEV registrations had surpassed that of the whole of 2014.”