Electric vehicle (EV) owners and potential buyers, beware: a looming price hike is on the horizon. In a move that could significantly impact the UK's growing EV market, a major change in government incentives is set to take effect, making EVs more expensive than their petrol-powered counterparts. The shift, which is expected to be announced in the upcoming budget, will see the plug-in car grant, a key subsidy for EV buyers, reduced or possibly even scrapped altogether. As a result, the cost of purchasing an EV could rise by thousands of pounds, making them less competitive in the market and potentially deterring buyers from making the switch to electric.
EVs are about to become more expensive The i Paper
