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The UK government is to invest £500 million in the Electric Vehicle market during 2015 – 2020. This announcement follows the extension of the £5000 incentive to buy Electric Vehicles which was confirmed last week.

These steps plan to make the UK one of the most EV-friendly countries in Europe. As noted by Pure Green Cars, the automotive sector is worth £11.2 billion to the UK economy.

The production of ultra low emissions vehicles is a major part of growth both now and for the future. The government’s investment is intended to create jobs, reduce emissions and keep the UK involved with leading edge green technology.

Full details will be published this autumn, however the key areas of investment are:

  1. Extension of the £5,000 cash discount financial incentive to buy EVs.
  2. ‘Ultra Low City Status’: local areas coming up with the most ambitious plans to become “Ultra Low Cities” can win a share of £35 million.
  3. The government will invest £100 million in research and development in ULEV.
  4. An additional £32 million will be invested in charging infrastructure. There will be a DC fast charger at every motorway service station by the end of 2014, and a network of 500 rapid chargers across the country by March 2015 – the best network in Europe.

“Ultra low emission vehicles bring together our most successful manufacturing sectors with our biggest long-term challenge – climate change,” said Chief Secretary to the Treasury Danny Alexander to Charged magazine. “Britain can be the leading country in the world in developing, manufacturing and using ULEVs.”

There is more about the government’s Go Ultra Low scheme here.

To find out how you can benefit from these exciting developments, talk to the team at EValu8.

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