VIDEO
Why electric cars could soon get cheaper
Manufacturers face paying £15,000 fine for each petrol, diesel or hybrid model sold above the EV target
ILLUSTRATION BY LILY WALTERS
Electric cars should finally become more affordable next year because new government rules will levy a fine of £15,000 per car if too few are sold.
Under the zero emission vehicle (ZEV) mandate, which comes into force on January 1, manufacturers will have to ensure that 22 per cent of cars they sell every year are fully electric. The target will rise each year, hitting 80 per cent in 2030.
If too few electric cars are sold, the manufacturer will either have to pay a £15,000 fine for each petrol, diesel or hybrid model sold above that threshold, or buy “credits” from rivals such as Tesla, which has an all-electric range.
Car manufacturers such as Toyota and Ford will be under intense pressure to sell
