Mike Waters' blog: 19th August: Momentum is building
19 August 2014
Mike Waters is senior insight & consultancy manager at Arval, the leading vehicle leasing and fleet management company
For a number of years there has been a lot of commentary about electric vehicles, and particularly debate around whether they will be the popular powertrain of the future. What we are now beginning to see is the hype translating into take-up.
Back in 2013, the Government set aside a pot of £13.5m to pay for the home installation of charging points. This grant has now run out demonstrating that more people are opting for electric vehicles as the technology becomes increasingly common.
The good news is that the Department for Transport has just announced a new £9m grant scheme which will run until 31st March 2015, assuming that the budget doesn't run out before that point. This means that anyone thinking of opting for a plug in hybrid, or even a fully electric vehicle, can benefit. It doesn't cover the full cost but will provide 75% of the cost of a home charging unit, including installation, up to £900.
It's an interesting transition as we move from a few early adopters to a greater number of people considering this technology. There's no doubt that grants like this help, as does the broader range of vehicles becoming available and falling up-front costs for some models. There are plenty of options and we know that this is going to grow in the coming years.
Whether this means that electric will become the most popular type of ultra low emission vehicle in the future is debatable and we will have to wait and see. However, momentum is building for electric vehicles as they become a more practical and desirable vehicle option for many drivers.
Mike Waters is senior insight & consultancy manager at Arval, the leading vehicle leasing and fleet management company.