UK car manufacturers are aggressively reducing electric vehicle (EV) prices to boost zero-emission sales, driven by stricter Net Zero regulations.
The government is reinstating a ban on new petrol and diesel car sales by 2030, prompting companies to accelerate their transition to all-electric models.
Jaguar plans to halt petrol car sales in the UK for a year, preparing for a complete shift to electric by 2026.
Under the Zero Emission Vehicle (ZEV) Mandate, manufacturers must ensure 22% of their sales are electric this year, facing fines for non-compliance.
DS Automobiles has led the charge with an average price drop of 35.7% on the 3 Crossback, reducing prices from over £37,000 to under £25,000.
MG has also decreased prices by 34% for the 5 and 30% for the ZS, while Tesla reduced the Model 3 from £42,000 to £39,000.
Despite these reductions, EVs remain pricier than petrol cars due to high development costs for new electric platforms.
Industry leaders warn that while the ZEV mandate forces production, it does not guarantee consumer purchases.