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UK government further slashes subsidies on electrified vehicles

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Corporate developments

New grants exclude Tesla from EV subsidies

The UK government has updated the grant scheme for electric cars, vans, and trucks to target less expensive models according to a press release on 18 March. From 18 March 2021, the government will provide grants of up to USD3,486 (GBP2,500) for electric vehicles (EVs) on cars priced under USD49,505 (GBP35,000).

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