More Chinese carmakers cut EV prices in response to electric car grant

MG has joined two other Chinese car manufacturers in launching their own discounts following the Government’s announcement of a new plug-in grant for electric vehicles.

Yesterday, GWM UK launched its own £3,750 ‘green grant’ to retail customers purchasing the all-electric Ora 03, while Leapmotor applied price cuts to its T03 and C10 battery electric vehicles (BEVs).

MG has now confirmed a grant of £1,500 for private buyers of the MG4 EV and the MGS5. This will be over and above any incentives currently offered by MG’s dealer partners.

Guy Pigounakis, commercial director for MG Motor UK, said: “MG has been a key contributor to the EV sector, consistently recognising the economic and environmental benefits of introducing a wide range of affordable, electric-only models.

“This announcement underlines this commitment and in addition to this, we will also seek to work constructively with the Government to further increase the sale of EVs.”

The Government's new electric car grant – worth up to £3,750 off a new BEV – was announced on July 14.  

To qualify for the £650 million scheme, electric cars must have a recommended retail price (RRP) of £37,000 or less, with two levels of grant available depending on the carmaker’s sustainability standards.

The ‘greenest’ vehicles in band one will receive up to £3,750, with band two vehicles receiving up to £1,500.

It requires manufacturers to have committed to a verified science-based target (SBT) and have embodied carbon scores below a certain threshold.

Following the launch, the Government suggested that Chinese-made BEVs will not qualify for its new electric car grant based on the environmental standards of production facilities.

Rather than waiting for approval, GWM UK says it is taking the uncertainty away and is offering the £3,750 saving to customers immediately, matching the Government grant and ensuring buyers of the Ora 03 benefit from today.

Available across the entire Ora 03 range, including Pure, Pro, and GT trim levels, the grant brings the entry-level Ora 03 Pure down to £21,245 OTR.

The £3,750 saving can also be used towards a personal contract purchase (PCP) deposit, and with GWM UK currently offering 0% APR PCP finance on the Ora 03 range, customers can combine these offers.

Toby Marshall, managing director at GWM UK, said: “We don’t believe our customers should have to wait for the Government to decide which vehicles qualify for the EV grant. So, we’ve taken matters into our own hands and matched the £3,750 saving, available to everyone, right now, on our Ora 03 range.

“With immediate availability, competitive finance, and exceptional value, there has never been a better time to go electric with GWM Ora.”