Budget 2020: £500m to support the rollout of rapid charging

The Chancellor Rishi Sunak has delivered his budget, which has included £500m to support the rollout of rapid charging hubs, so that drivers are never more than 30 miles from a charging point.

A Rapid Charging Fund will also be established through OLEV to assist businesses with the cost of connecting charge points to the grid.

The Plug-in Car Grant (PiCG) has been extended until 2022/23, with an additional £403 million investment, as well the Plug-in Van, Plug-in Taxi, and Plug-in Motorcycle Grants, through investment worth £129.5 million.

Other announcements include freezing company car tax rates between 2023 and 2025 and exempting all zero-emission vehicles from the VED ‘expensive car supplement’ until 2025. The Van Benefit Charge for zero-emission vans from 2021 will also be eliminated.

Frank Gordon, Head of Policy at the REA said: “For the electric vehicles sector, this budget is a welcome boost. With a new fund for developing a high-power charging network, tax relief for new electric cars, R&D investment, and an extension to plug-in vehicle grants all announced it is clear that the Government is doing what it can to ensure the UK is at the fore of this emerging global industry. What’s needed now is clarity, particularly on the role Government will play in supporting rapid charging roll-out along the motorway network, and on what is to happen to the existing home and workplace EV charging grant schemes due to expire later this year.”