UK government further slashes subsidies on electrified vehicles

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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