UK electric-vehicle buyers will receive a credit for as much as 25 percent of the value of their new vehicle, up to 5,000 British pounds, or just under $7,800 U.S. at today's exchange rates, Autoblog's sister publication in the UK reported. Purchasers of electric commercial vehicles may receive a credit worth as much as 20 percent of the vehicle's cost, up to 8,000 pounds ($12,500).
With the credit, the price of a Nissan Leaf is reduced about 14 percent, to 25,990 pounds ($40,500), while the price of a Renault Kangoo Z.E. is dropped an even 20 percent to 16,990 pounds ($26,500). Among the other electric-drive vehicles set to debut in the UK this year are the Chevrolet Volt and the Nissan eNV200 van.
The UK's tax credit for EVs is slightly more generous than the flat $7,500 incentive offered by the U.S. federal government, though many U.S. states offer additional tax credits to EV buyers.