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Is the clock ticking on the Plug-in Taxi Grant (PiTG)?

An expert in London’s taxi fleet industry has voiced concerns over the potential discontinuation of the Plug-in Taxi Grant (PiTG) by March 2024. This grant, significantly reducing new cab prices by £7,500, is crucial for acquiring environmentally friendly taxis.

Despite efforts by organizations like the London Taxi Drivers’ Association (LTDA) to advocate for its continuation, uncertainties persist, especially considering the government’s focus on regional development beyond London.

The expert suggests that with the government’s wavering commitment to net zero targets and the delayed ban on petrol and diesel cars, extending the grant beyond March 2024 might be unlikely. This situation urges taxi drivers to expedite new vehicle purchases to benefit from the grant, potentially saving substantial amounts.

The advice for taxi fleets is to consider advancing their purchase plans, and securing agreements on trade-ins and financing sooner rather than later. There’s uncertainty about whether LEVC, the taxi manufacturer, can meet potential increased demand before the grant’s deadline.

The expert emphasizes the importance of proactive planning, highlighting that once the grant ends, it might not return.

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Marketing Director at Skyemotion Ltd
As marketing director, Paul is largely responsible for Carvine’s online presence and underwriting along FCA compliance.

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