How do we accelerate the EV market?

We all have a responsibility to act, collaborate and work together.

How do we accelerate the EV market?

Transport contributes around 28% of all the UK greenhouse gases therefore it’s one of the big areas to drive change.  Many have already chosen to have a cleaner and greener drive by making the change to EV but to really accelerate more EVs on the road we all need to think change to green and be more accountable before we buy a car or van by choosing EV.

The more volume we create collectively and collaboratively the more cost effectively manufacturing will become for the EV market will therefore create a supply and demand cost saving for everyone and more importantly reduce greenhouse gases quicker.

Just when the EV market was ticking along nicely, the UK governments decides to back track on their climate policy plans, no doubt a cost cutting money decision rather than doing the right thing for the climate, such decisions undoubtably have sent out huge negative signals towards climate change.

With the UK government back tracking many OEM car manufacturers, automotive supply chains and endless Tech companies will be very angry and concerned now about their speed of return on investment (ROI) will now be delivered having already committed to huge outlays.

These brave and committed companies would have already agreed to invest multi millions into their ROI business models and create a cleaner and greener world at the same time.

How can the government make laws and decide to make U-turns?  what message does this give to investors to come here to the UK? and for us the public who want to support climate change. Enough said.

EV manufacturing volumes are growing with around one million cars predicted on our roads by the end of 2023 with the Salary Sacrifice scheme leading the way to sales throughout the UK, which allows employees to exchange part of their gross salary for a brand-new car with maintenance, tyres and insurance included.

Through this scheme the government allows a monthly car lease amount to come off your gross salary amount meaning that you will save on tax and national insurance contributions.

Also, through this Scheme credit checks are carried out on the Company and not the individual, the Company therefore deducts the monthly car amount out of your salary and pays the Salary Sacrifice provider directly.

Not every Company will pass a credit check so there needs to be more options and thoughts around Companies potentially taking out an insurance backed scheme where if a company fails a credit check and the Company fail to offer Salary Sacrifice scheme to their employees the Company picks up the additional risk and cost otherwise it’s not fair that those employees not to take advantage of the tax savings and for climate acceleration.

To my knowledge there is no such insurance backed scheme yet, but it would almost defiantly help grow EV cars on our roads.

If a Company fails to opt into this insurance scheme, then rightly so they should be green taxed the potential savings for the individual that has to buy outside the scheme up to an agreed level of a vehicle amount.

For those 1.6m or so low paid individuals in the UK that want to buy an EV car or van they often cannot because one of the rules of the Salary Sacrifice is that you cannot go below the gross minimum wage when buying a car, perhaps by introducing an additional universal credit/means tested type of credit tax top like a pip this could help increase the EV take up thus turbo charging climate change footprints.

For self-employed individuals van or taxis drivers there is not a salary sacrifice scheme either through a company or through any such Salary sacrifice scheme, perhaps this should also be looked at, anything to drive climate change can only be a good thing…

We all have a responsibility to act, collaborate and work together.


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