LEVC (London Electric Vehicle Company) has launched a new finance deposit contribution for its new, all-electric TX taxi. Only available in the UK, the scheme fully offsets the recent reduction in the UK government’s Plug-in Taxi Grant (PiTG).
The new campaign makes a £1,500 deposit available for an initial period on all new TX taxi models across all finance types offered by LEVC Financial Services. It also has a zero deposit option and a subsidised finance rate of 10.51% APR representative. This offsets the PiTG reduction, which was reduced from £7,500 to £6,000 at the start of April 2024.
ULEZ and LEZs affecting taxi providers
Launched in 2018, demand for electric taxis continues to accelerate in the UK due to increased LEZs (Low Emission Zones) and ULEZ (Ultra Low Emission Zones) in towns and cities. ULEZ and LEZs significantly impact taxi owners and operators and there are currently 13 in the UK, including London, Bath, Bradford, Birmingham, Bristol, Oxford, Portsmouth, Sheffield, Newcastle, Aberdeen, Dundee, Edinburgh and Glasgow.
More than half of London’s black cab fleet is now zero-emission, thanks to the TX. The cab is on sale in over 25 countries worldwide.
Powered by its revolutionary eCity technology, LEVC’s electric TX taxi has travelled more than 780 million miles globally and prevented more than 240,000 tonnes of harmful CO2 emissions from entering the world’s atmosphere.
Chris Allen, Managing Director, 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.”
The new finance offer follows LEVC’s recent announcement about its new pure electric vehicle technology, transforming the brand from a taxi manufacturer to a provider of zero-emission e-mobility solutions. LEVC’s Space Oriented Architecture (SOA) is the world’s first EV platform to set new standards for onboard space.
Image courtesy of LEVC.
