£2.5 million EV grant launched in Scotland

Drivers in Scotland can now apply for a loan of up to £50,000 to purchase an electric or hybrid vehicle.

The Electric Vehicle Loan has been launched by the Energy Saving Trust with £2.5 million funding from Transport Scotland. Motorists can use the loan to pay for 100 per cent of the purchase price, which can be repaid over six years.

Businesses will also have the opportunity to apply for a loan of up to £100,000.

Transport minister Derek Mackay said: "Encouraging mass changeover to electric vehicles, from more polluting ones running on petrol or diesel, is a key to cleaner road transport in Scotland and a fundamental factor in achieving our ambitious climate change targets while also improving local air quality.

“Electric vehicles already offer large savings to drivers through reduced fuel and taxation costs and this fund will further encourage new buyers by addressing the current cost premium often cited as a barrier to making the switch."

Harry Mayers, of the Energy Saving Trust, said: "We’re seeing an increasing amount of interest in electric cars as the technology develops and the charging infrastructure continues to grow across Scotland. This loan fund from Transport Scotland will help people to turn that interest into action and benefit from the long-term cost savings that electric cars offer.

"Electric cars cost around 3p per mile to run, compared with around 15p per mile for the average petrol car, and incur no road tax. They also help to reduce local air and noise pollution, contributing towards a greener, healthier Scotland."

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