However, Chinese brands such as BYD, Dacia and Leapmotor may not qualify for the scheme due to environmental standards of production facilities. Despite this, some Chinese brands such as Laapmoor have taken their own action and pledged to cut prices by the same £3,750 figure in-line with the new rule.
The Government said their new EV grant would help to narrow the upfront cost difference between petrol cars and electric models. It comes after previous polls suggest upfront costs were still a key barrier to motorists making the transition.
Buying an electric vehicle is becoming cheaper, with around 40% of used electric cars now available for under £20,000. Meanwhile, analysis shows there are now 33 brand new electric cars available for under £30,000.
However, help has been offered after SMMT data revealed that just one in 10 private buyers decided to go ahead and buy electric cars in 2024. Speaking when the news was first announced, Iain Reid, head of Editorial at Carwow, welcomed the new savings.
Iain said: “The Government’s EV subsidy scheme is a welcome turning point – and one we’ve long been calling for. The decision to reintroduce support at the point of sale is exactly what’s needed to rebuild consumer confidence; a saving of up to £3,750 available until 2028/29 could be decisive for many households considering an electric car for the first time.
“Manufacturers have done their part by bringing EV prices closer to petrol equivalents, and a grant targeted at the more affordable end of the market will help boost momentum.”
50 cars that could be eligible for price cuts
- Dacia Spring – £14,995
- Leapmotor T03 – £15,995
- BYD Dolphin Surf – £18,650
- Fiat Grande Panda – £21,035
- Citroen e-C3 – £22,095
- Renault 5 – £22,995
- Hyundai Inster – £23,005
- Citroen e-C3 Aircross – £23,095
- Vauxhall Frontera Electric – £23,995
- GWM Ora 03 – £24,995
- Fiat 500e – £25,035
- Vauxhall Corsa Electric – £26,780
- MINI Cooper Electric – £26,905
- Renault 4 – £26,995
- MG4 – £26,995
- Citroen e-C4 – £27,650
- MGS5 EV – £28,495
- Citroen e-C4 – £28,715
- MINI Aceman – £28,905
- Smart #1 – £29,960
- Abarth 500e – £29,985
- Ford Puma Gen-E – £29,995
- Jeep Avenger – £29,999
- Suzuki e-Vitara – £29,999
- Fiat 600e – £30,035
- Peugeot e-208 – £30,150
- BYD Dolphin – £30,205
- Volkswagen ID.3- £30,860
- Citroen e-Berlingo – £31,240
- Toyota Proace City Verso EV – £31,995
- Peugeot e-Rifter – £32,250
- Vauxhall Mokka Electric – £32,430
- Renault Megane E-Tech – £32,495
- MINI Countryman Electric – £33,005
- Kia EV3 – £33,005
- Volvo EX30 – £33,060
- Omoda E5 – £33,065
- Alpine A290 – £33,500
- Alfa Romeo Junior Elettrica – £33,906
- Smart #3 – £33,960
- Vauxhall Astra Electric – £34,130
- Hyundai Kona Electric – £34,500
- Peugeot e-2008 – £35,400
- Cupra Born – £35,690
- Vauxhall Grandland Electric – £36,455
- MG4 XPower – £36,495
- Leapmotor C10 – £36,500
- Abarth 600e – £36,985
- KGM Torres – £36,995
- Skywell BE11 – £36,995