Electric

Budget 2020: Helping the fleet industry transition to EVs

11 / 03 / 20  |  Economy

Claire Evans, head of fleet consultancy at Zenith said: “It’s a budget that helps the fleet industry transition to electric vehicles (EVs) and realises the goal of making electric transport the new normal by 2030.

“The fleet industry will take real confidence from the confirmation of benefit-in-kind (BiK) tax rates and the further announcement they will be frozen at 2022/23 levels for an additional two years. It gives the industry the certainty it needs and provides a commitment to low rates for drivers of EVs.

“The Chancellor set out wide-ranging measures that will help businesses and consumers maximise move to electric and alternative-fuelled vehicles with increased certainty. Significantly the extension of plug-in grants to 2022/23 and the removal of the expensive car supplement for EVs from April 2020, which equates to £27 a month at current rates.

“Along with the fiscal incentives, it is good to see an increase in infrastructure investment with a total of £1bn promised to fund green transport solutions, and £500m to support the rollout of new rapid charging hubs so that drivers are never more than 30 miles away from being able to charge up their car.

“The Chancellor’s announcements will be welcome by fleet operators as it helps them address their bold ambitions to transition to cleaner technologies and provides drivers with the reassurance they need when adopting electric vehicles for the first time.”