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Tallex

Administrator

Incentives for zero-emission cars

Incentives for zero-emission cars

https://eandt.theiet.org/content/articl … in-london/

Green number plates could be applied to zero-emission cars, granting them access to certain benefits by making them easily identifiable.

The Department for Transport (DfT) has launched a consultation on the plans, which would only apply to vehicles conforming to the highest environmental standards.

Drivers of such vehicles could be granted certain benefits such as being allowed to use bus lanes and paying less for parking.

murdoch

Member

Re: Incentives for zero-emission cars

I'd like to see penalization of loans for fossil fuel vehicles and an application of the collected revenues to reward banks for making loans on EVs.

Tallex

Administrator

Re: Incentives for zero-emission cars

I'd like to see penalization of loans for fossil fuel vehicles and an application of the collected revenues to reward banks for making loans on EVs.

BY penalization, do you mean something like 35-40 % interest rate on loans for ice vehicles and minimal interest rates for EV loans?

In some locales, EV's already get special privileges such as being allowed in reserved bus/car pool lanes
and some limited free meter parking. It's a start I guess.

murdoch

Member

Re: Incentives for zero-emission cars

I'd like to see penalization of loans for fossil fuel vehicles and an application of the collected revenues to reward banks for making loans on EVs.

BY penalization, do you mean something like 35-40 % interest rate on loans for ice vehicles and minimal interest rates for EV loans?

In some locales, EV's already get special privileges such as being allowed in reserved bus/car pool lanes
and some limited free meter parking. It's a start I guess.

How about start off slow and ramp up gradually?  On a $10k loan for a used ICE, something like a tax of $50 or $100?  And perhaps redistribute those funds through minor discounts on BEV loans?  If the latter would be hard to implement, it could be mandated and then re-compensated to the banks at their tax time.

Then possibly ramp up the amounts.  35-40% interest rates for loans on ICEV to start is sort of the opposite of what I'm suggesting because it would be absurd and would in effect give a very nasty black eye to the cause of advocating for BEV.  Eventually we will have to get there (i.e.: eventually we will have to have a de facto ban on used or new ICEV sales) but to start it should be something reasonable, and with a transparently stated ramp-up schedule.

To poke holes in this though, it might in a sense be poorly timed.  The vehicle makers have taken their sweet time (decades) about bringing the better BEVs to market, so when they do, and when they begin selling in earnest (such as when their battery supplies are ramped up), then offering a discount on BEV loans might be superfluous and expensive policy, and so might in the end, at that time, not be a good idea.  But I do think, as a matter of principle, there should be institution of moderate ICEV loan penalties, along with mandatory robust transparency on the auto loan portfolios of all banks, so that all citizens around the world can see exactly which banks are facilitating the ownership and deployment of so many more fossil-fuel burners.

Tallex

Administrator

Re: Incentives for zero-emission cars

How about start off slow and ramp up gradually?  On a $10k loan for a used ICE, something like a tax of $50 or $100?  And perhaps redistribute those funds through minor discounts on BEV loans?  If the latter would be hard to implement, it could be mandated and then re-compensated to the banks at their tax time.

Then possibly ramp up the amounts.  35-40% interest rates for loans on ICEV to start is sort of the opposite of what I'm suggesting because it would be absurd and would in effect give a very nasty black eye to the cause of advocating for BEV.  Eventually we will have to get there (i.e.: eventually we will have to have a de facto ban on used or new ICEV sales) but to start it should be something reasonable, and with a transparently stated ramp-up schedule.

To poke holes in this though, it might in a sense be poorly timed.  The vehicle makers have taken their sweet time (decades) about bringing the better BEVs to market, so when they do, and when they begin selling in earnest (such as when their battery supplies are ramped up), then offering a discount on BEV loans might be superfluous and expensive policy, and so might in the end, at that time, not be a good idea.  But I do think, as a matter of principle, there should be institution of moderate ICEV loan penalties, along with mandatory robust transparency on the auto loan portfolios of all banks, so that all citizens around the world can see exactly which banks are facilitating the ownership and deployment of so many more fossil-fuel burners.

Yeah, High interest rates such as mentioned would cause some problems but a sliding scale with a couple of percentage points extra on ICE loans would be ok and quite a good incentive for purchasing EV's with the added interest points (ICE) awarded to EV purchases with a discount in interest rates on those vehicles.