If you're considering buying a new electric car then you might be aware of the plug-in car grant (aka PICG). This is a scheme the UK Government has had in place for the last few years to encourage people to buy either electric or hybrid vehicles instead of conventional ones.
The grant meant you could save as much as £3,500 on a new plug-in vehicle. In October 2018, this subsidy scheme was amended and hybrid purchases could no longer benefit from the saving.
The Government said this move was intended to shift the focus towards electric vehicles instead. Now it seems that the Government is making plans to end the grant completely.
In an interview with The Times, the UK's transport secretary Grant Shapps said the scheme was being ended, but didn't indicate when:
"I make no bones about it. We want to remove all the subsidy. So you can see this in two ways. If you are out there reading this, thinking of buying an electric car, buy it while the subsidy’s there, because it will go eventually."
This does seem to be in line with the update from last year where the Government said it was extending the plan into the next decade. We'd expect it's due to end sometime in 2020, though exact dates are not known.
This news is at odds with the Government's other plans to ensure more electric cars on the road as well as the ban on all diesel and petrol cars by 2040. But the takeaway is clear, if you're thinking of going electric, now is the time to do it.