The London Electric Vehicle Company introduces new electric taxi initiative to counter reduced UK government incentives 

• LEVC introduces initiative to counter reduced government incentives for electric taxi market.
• Offer includes £1,500 deposit contribution and subsidised finance options for new TX taxi models.
• TX taxis gain traction globally, contributing to significant CO2 reduction, powered by innovative eCity technology.

LEVC’s new initiative will continue the electric taxi rollout, despite tumbling government assistance

LEVC, the London Electric Vehicle Company, has rolled out a new initiative. It’s aimed at cushioning the blow of reduced government incentives for greener taxis. The recent reduction in the Plug-in Taxi Grant (PiTG) dropped from £7,500 to £6,000 in April 2024. LEVC’s move is a response to the evolving landscape of eco-friendly transportation.

Under this initiative, LEVC Financial Services is offering a £1,500 deposit contribution for all new TX taxi models. Additionally, customers can take advantage of finance options with zero customer deposit and a subsidised rate of 10.51% APR representative.

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Since its debut in 2018, the TX taxi has been gaining traction in the market. Over half of London’s iconic black cab fleet is now capable of zero-emission operation thanks to the TX model. The shift towards cleaner transport options is gaining momentum. Moreover, the TX is making waves globally, being available for purchase in over 25 countries.

Notably, the environmental impact of the TX fleet is significant. With over 10,000 units sold worldwide, it has contributed to preventing a whopping 240,000 tonnes of CO2 emissions. Powered by LEVC’s innovative eCity technology, the TX fleet has collectively traversed over 780 million miles, showcasing its reliability and efficiency.

Chris Allen, Managing Director of LEVC, commented: 

“Demand for our award-winning TX continues to accelerate, but with the recent £1,500 reduction in the PiTG coupled with currently high national interest rates, drivers need support to continue their transition into new, green taxis. LEVC recognises this and it’s why we’re making this new contribution and subsidised APR finance offer available, initially bridging the gap for our customers. Looking ahead, LEVC will continue to work closely with government to provide long term support to the trade, including provisions beyond the current one-year PiTG extension.”

LEVC’s announcement coincides with the unveiling of its cutting-edge electric vehicle technology, Space Oriented Architecture (SOA). This groundbreaking platform focuses on optimising interior space for EVs. With SOA, LEVC aims to diversify its offerings and cater to a broader range of consumers.