Tax Cuts Could Boost Sluggish Demand for Electric Vehicles, Says Tech Boss

Big tax cuts might be required to boost demand for electric vehicles (EVs) from customers put off by the prohibitive cost, MPs have been told. David Wong, the head of technology and innovation with the Society of Motor Manufacturers and Traders (SMMT), said manufacturers will miss their sales targets this year and he suggested halving VAT for EVs. Under the government’s Zero Emission Vehicle (ZEV) mandate, they set targets for 22 percent of all car sales to be electric this year and 10 percent of vans. But Mr. Wong said, “we’re below that trajectory.” He said, “Our members feel that the market will be, in terms of battery electric, cars 19.8 percent and vans 8.3 percent, so it’s below the 22 percent for cars and 10 percent for vans.”...