Government to invest £500 million in green cars

The Government is going to invest £500 million in the eco-friendly car industry, Nick Clegg has announced.

The Deputy Prime Minister revealed that the large investment would be staggered between 2015 and 2020. As well as making the motor trade industry greener, the Government hopes that the initiative will create many new jobs.

Car dealerships, garages and mechanics will all need to prepare themselves for the potential influx of electric or hybrid vehicles that could pass through their doors as a result of this news. One such consideration will be their motor trade insurance policy; as policies often stipulate which types of vehicle are covered by an insurance quote, should a firm wish to expand its business in this area they ought to speak to an expert motor trade insurance broker like ChoiceQuote to ensure they remained fully covered.

The new Government scheme will extend the £5,000 Plug-In Car Grant to 2017 to continue encouraging motorists to buy environmentally friendly cars. Furthermore, any town or city that gains a new ‘Ultra Low City Status’ will get a share of £35 million to invest in infrastructure, such as rapid charge points, to support electronic cars.

Announcing the plans, Nick Clegg said: “Our economy is growing thanks to sectors like our thriving automotive industry that are helping repair and rebalance the economy, building a fairer society for this generation and the next.

“The UK has the potential to emerge as a world leader in the development, design and manufacture of green vehicles. Owning an electric car is no longer a dream or an inconvenience. Manufacturers are turning to this new technology to help motorists make their every day journeys green and clean.”