We all know the switch from traditional combustion engines to electric vehicles (EVs) is well underway, with manufacturers investing billions to bring EVs to the market.
Registrations of new EVs rose by a huge 61.7% between June 2018 and June 2019, but why are consumers still holding back on this new trend? The UK Government has assured that by 2030, a minimum of 50% of new car sales, and up to 40% of new van sales will be hybrid or EVs. This is a part of their Road to Zero strategy. The Road to Zero strategy outlines the government’s long-term strategy to transition to zero emission road transport by 2040, with the hope to reduce emissions along the way.
A survey run by Deloitte revealed that the lack of charging infrastructure and concerns over driving range of EVs are factors that sway consumers away from purchasing. But what can be done to increase sales of EVs and when will EV sales storm past the sales of traditional combustion vehicles?
The UK Government has committed £440 million to charging infrastructure by 2020 – will this mean daily charge range anxiety will be a thing of the past? Not only this, but in April 2020 the benefit in kind (BIK) tax drops from c20% to 0% for electric vehicles. Beyond 2020, the tax rises again to just 2% for electric vehicles, only 10% of the original c20%.
So, when will we see the change? 2020, 2021 or thereafter? What do you think? Let us know in the comments below.