Scottish government offers fleets interest-free ULEV loans
Managed by the Energy Saving Trust, the Electric Vehicle Loan provides up to £50,000 for private purchases or up to £100,000 for businesses, funded by the Transport Scotland agency and available until the 31st March 2016. In total, £2.5m in funding is available.
In each case, the loan is provided in addition to the UK government’s Plug-in Car Grant and Plug-in Car Grant, and can fund up to 100% of the vehicle price. Drivers can already take advantage of the mostly free-to-access ChargePlace Scotland charging points, as well as a 100% grant for a domestic wallbox.
The loan supports the government’s Switched On Scotland roadmap, which aims to increase the penetration of plug-in vehicles. Plans include rapid charging points at 50-mile intervals across the road network, supporting electric car sharing clubs and promoting ULEV sales on the way to a carbon-free transport system by 2050.
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.”
Harry Mayers, head of new services at the Energy Saving Trust, added: “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."