UK Unveils $2 Billion Plan to Boost Electric Vehicle Transition
Britain's government is expected to introduce a 1.5 billion pound ($2 billion) package to accelerate a switch to electric vehicles.
The British government said it would introduce a £1.5 billion ($2 billion) package to accelerate the transition to electric vehicles, including an additional £1.3 billion for a grant scheme to purchase new electric cars.
The government said that since its launch in July, the Electric Car Grant Scheme has helped more than 35,000 drivers switch to EVs, reducing initial costs by up to £3,750.
The government said it also expects to allocate an additional £200 million to accelerate the rollout of chargepoints across the UK in the upcoming budget on November 26th.
As part of its larger goal of achieving net-zero greenhouse gas emissions by 2050, Britain aims to phase out the sale of new petrol and diesel cars by 2030. However, demand for EVs has stalled, with consumers citing high initial costs as a major barrier. The opposition Conservative Party criticized this move.
"Ordinary families are facing increased taxes and rising inflation under Labour, yet the government's priority is to offer discounts on new electric cars," said Richard Holden, the Conservative Party's transport policy chief.
"This is exactly the kind of reckless, high-spending nonsense we've come to expect from this Labour government."
($1 = 0.7639 pounds)
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