Smith Wins Battle Over Tax Breaks

Smith Wins Battle on UK Tax Breaks for Electric Vans

WASHINGTON, Tyne & Wear, UK – Smith Electric Vehicles is celebrating, after leading a successful campaign to win UK tax breaks for electric vans.
The Chancellor Alistair Darling, in his Pre-Budget Report, today announced a 100% capital allowance for companies purchasing electric vans. This means fleet operators can write down the entire cost of buying an electric van in the first year of ownership.

Electric vans cost much less to run than diesel vehicles, but at present are up to three times more expensive. The tax incentive will help to bridge this cost gap and boost sales, which in turn will drive volume production and lower the cost of electric vans.

Kevin Harkin, Sales Director for Smith Electric Vehicles, said: "This welcome tax incentive will make electric vans much more appealing to fleet operators across the UK, as it removes a cost barrier to purchasing these new technology vehicles.

"The UK already produces the best electric vans in the world; now we also have the opportunity as a nation to lead the way in buying and using these environmentally-friendly vehicles.

"Today's announcement marks the successful conclusion to a long campaign by Smith Electric Vehicles to win capital allowances for electric vans. We have made representations at the very highest level of Government, so we are delighted that Government has listened and acted to support us."

The Smith Edison van is a pure electric version of the Ford Transit, produced by Smith in collaboration with Ford of Europe. It is entirely powered by leading edge lithium-ion batteries, delivering a top speed of 50mph and a range of up to 100 miles on a full charge. Zero emission at the point of use, Edison is designed for urban operations, where it helps improve city centre air quality as well as reducing CO2 emissions.

The van is in use with a wide range of companies and public sector bodies across the UK and Europe – last week Sainsbury's announced it was purchasing 51 Smith Edisons for its online grocery delivery service in London.

Employees at the Smith Electric Vehicles facility in Washington, Tyne & Wear, had further cause for celebration today, after the Smith Edison was named Eco Van of the Year in the prestigious What Van magazine awards.