Jonathan Fong, an expert from the Association of British Insurers, acknowledges the need to address various concerns in the insurance and vehicle repair supply chains when implementing new technologies.
In response, the Department for Energy Security and Net Zero highlights its commitment to investing in innovation, research, and collaboration with insurers and manufacturers to enhance the repair, refurbishment, and recycling of electric vehicle batteries.
Meanwhile, the car industry urges the government to eliminate VAT on electric car chargers to avoid falling behind net-zero targets.
The Society of Motor Manufacturers and Traders (SMMT), a representative body for car makers, proposes a tax reduction on public charging stations to facilitate the adoption of eco-friendly vehicles.
Currently, homeowners with personal chargers benefit from a 5% VAT rate, while those relying on the public charging network are subject to a 20% VAT charge.
The SMMT argues that equalizing this disparity will make electric car ownership more attainable for all individuals, regardless of their housing situation.
SMMT CEO Mike Hawes emphasizes that individuals without driveways or designated parking spaces end up paying four times more tax for the same amount of energy, creating an unfair disadvantage and potentially hindering the widespread adoption of electric vehicles.
To address this issue, cutting VAT on public EV charging would promote fairness and attract a larger population to consider owning an electric vehicle.
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