UK’s Green Investment Bank Considers Backing Fleet Purchases of Plug In Vehicles
The UK’s Green Investment Bank has announced that it plans to help businesses and the public sector deploy new fleets of low emissions vehicles, including plug in cars and buses.
Green Investment Bank is trying to secure £3 billion in capital from private investors. Some of that funding will go towards electric vehicles.
As Business Green reports:
“…the bank was now considering plans to invest in low carbon transport infrastructure, specifically new electric recharging networks for large fleets of low emissions vehicles.”
The Green Investment Bank is expected to make a final decision within the next three months on whether it regards the technology as financeable and fits into its mandate to back green technologies. A positive decision could offer a major boost for the low carbon vehicle market, which despite its recent growth, still requires major new investment in transport infrastructure to deliver a transformational shift to low emissions vehicles. It would also raise the prospect of new financing options for public transport and corporate fleets that would otherwise struggle to cover the upfront cost of switching to a greener fleet.”
So, it seems Green Investment Bank will do two things to promote electric vehicles:
- Install public charging infrastructure
- Provide financing options for the purchase of electric vehicles
Surely Green Investment Bank will need to make a profit on both counts, but still it shows more support could be coming for plug in vehicles and that’s the real plus here.
Source: Business Green