EV Industry Breaking News

Electric car charge points to be installed on every new home

All new homes in England will have to be fitted with charge points for electric vehicles, as the government seeks to facilitate the infrastructure improvements necessary for the planned mass-adoption of electric vehicles.

The news comes as Department for Transport has announced a public consultation on the subject. If the planned changes to building regulations go through, it would force homebuilders to install charge points so potential owners could easily charge their plug-in hybrids and electric cars at home. The move would mean buyers of new-build homes would not need to make use of the Government’s home charger subsidy scheme, which has seen almost 100,000 wallboxes installed.

“England will be the first country in the world to introduce mandatory electric car charging points for every new-build home. All new homes in England will have to be fitted with charge points for electric vehicles…”
– AutoExpress Magazine, July 2019

Theresa May’s Speech to Business Leaders

Theresa May’s Speech to Business Leaders…

“We are going to build a high speed electric vehicle charging infrastructure nationally. I have asked the Office for Low Emission Vehicles (OLEV) to lead a review on how we do this – reporting back in the Autumn.
“Because electric vehicles are critical to meeting the net zero target – and in turn have the potential to create thousands of new jobs right across the country.”

Company car drivers choosing a pure EV will pay no Benefit-In-Kind (BIK) tax in 2020/21

Company car drivers choosing a pure EV will pay no Benefit-In-Kind (BIK) tax in 2020/21. Increases will later take place – to just 1% in 2021/22 and 2% in 2022/23.

HM Treasury says that for cars first registered from April 6, 2020, most company car tax rates will be reduced by two percentage points. That means for a pure electric vehicle with zero tailpipe emissions, company car drivers will be taxed at 0%, paying no BIK tax at all. Furthermore, the zero percentage rate is also extended to company car drivers in pure electric vehicles registered prior to April 6, 2020, who were already looking forward to a much reduced rate of 2% for 2020/21.

The 0% rate will also apply to company cars registered from April 6, 2020, with emissions from 1-50g/km and a pure electric mile range of 130 miles or more. Both will then increase to 1% in 2021/22 and 2% in 2022/23. Pure electric company cars registered before April 6, 2020, will also increase to 1% and 2% in subsequent years, 2021/22 and 2022/23.

However, company cars registered before April 6, 2020, with emissions from 1-50g/km and a pure electric mile range of 130 miles or more attract a 2% BIK rate in 2020/21 and stay the same for the two subsequent tax years. From 2023/24, fleets will have one BIK tax table again as the rates are realigned.

The Government says that “by providing clarity of future the appropriate percentages, businesses will have the ability to make more informed decisions about how they make the transition to zero emission fleets”. It added: “Appropriate percentages beyond 2022-23 remain under review and will be announced at future fiscal events.

“The Government aims to announce appropriate percentages at least two years ahead of implementation to provide certainty for employers, employees and fleet operators.”

Bloomberg predicts EV’s will reach price parity with ICE vehicles within 5 years

Bloomberg predicts EV’s will reach price parity with ICE vehicles within 5 years. Electric cars may be cheaper than their petroleum counterparts by 2025 if the cost of lithium-ion batteries continues to fall.

Some models will cost the same as combustion engines as soon as 2024 and become cheaper the following year, according to a report by Bloomberg New Energy Finance. For that to happen, battery pack prices need to fall even as demand for the metals that go into the units continues to rise, the London-based researcher said on Thursday.

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