The party says if it gets elected, it’ll offer loans to low income households
Labour says that it will offer 2.5 million interest-free loans to buyers of electric vehicles to accelerate the uptake of zero-emission vehicles if it is elected.
Shadow chancellor John McDonnell confirmed that the loans would be up to a value of £33,000 and be available to low income households, independent contractors and small businesses.
It says the government would cover £1,500 cost of interest and claims recipients would save up to £5,000 over the course of the loan.
However, acceptance into the scheme would require participants to take part on a mass trial of vehicle-to-grid technology, which sees electric cars used as energy storage devices that can be tapped into to take stress off the national grid.
“This will stimulate the automotive industry, it will sustain jobs in the conversion from fossil fuels to electric but actually it will create new jobs as well.”
Read more: Express and Star