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UK Launches $845 Million EV Grant Scheme to Boost Electric Car Sales

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UK Launches $845 Million EV Grant Scheme to Boost Electric Car Sales

A customer prepares to charge his Tesla electric vehicle (EV) in a bay for electric vehicles at a supermarket in north London on Nov. 18, 2020. Daniel Leal-Olivas /AFP via Getty Images

The UK on Tuesday announced a 650 million pound ($845 million) grant scheme to provide discounts for drivers buying new electric vehicles (EVs), as part of its efforts to accelerate the transition away from petrol and diesel cars.

Under the scheme, drivers switching to electric cars priced at 37,000 pounds ($48,100) or less will be eligible for government grants of up to 3,750 pounds ($4,880).

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