Discover the OZEV Grant: Everything You Need to Know about It
If you’re planning to purchase an electric vehicle (EV) in the UK, you’ll be pleased to know that the government is incentivizing consumers to make the switch to electric. The Office for Zero Emission Vehicles (OZEV) Grant is a great way to save money on your EV purchase. In this article, we’ll explore the OZEV Grant in detail so that you can take advantage of this opportunity.
What is the OZEV Grant?
The OZEV Grant is a government scheme aimed at promoting the purchase of electric or hybrid vehicles. The grant provides a discount on the purchase price of an eligible EV or hybrid. The grant is included in the vehicle’s list price, so you don’t need to apply for it separately.
Who is Eligible for the OZEV Grant?
To be eligible for the OZEV Grant, you must meet the following criteria:
- You must be a resident of the UK or a business registered in the UK.
- The vehicle must be brand new, have CO2 emissions of less than 50g/km and meet certain safety and security standards.
- You must keep the vehicle for at least six months.
How Much is the OZEV Grant Worth?
The OZEV Grant varies depending on the type of vehicle. Here’s a breakdown of the current grants available:
- Electric cars – up to £2,500 off the purchase price
- Electric vans – up to £3,000 off the purchase price
- Hybrid cars – up to £2,500 off the purchase price if the vehicle has CO2 emissions of less than 50g/km and can travel at least 70 miles on battery power alone
How to Apply for the OZEV Grant
There’s no need to apply for the OZEV Grant separately. The dealer or manufacturer will include the grant in the vehicle’s list price. You’ll need to provide evidence that you meet the eligibility criteria to the dealer or manufacturer.
Other Benefits of Owning an Electric Vehicle
In addition to the OZEV Grant, there are several other benefits to owning an electric vehicle:
- Lower running costs – electricity is cheaper than petrol or diesel
- Tax benefits – electric vehicles are exempt from road tax and have lower company car tax rates
- Reduced emissions – electric vehicles have zero emissions, which is better for the environment and your health
- Regenerative braking – electric vehicles use regenerative braking to recapture energy, which can be used to recharge the battery
Conclusion
The OZEV Grant is a fantastic way to save money on your electric vehicle purchase. By taking advantage of this scheme, you can reduce the upfront cost of your new car or van. Electric vehicles have many benefits, including lower running costs, tax benefits, and reduced emissions. With the OZEV Grant, there’s never been a better time to make the switch to electric.
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