London: ‘Social Leasing’ Could Make EVs Affordable for 3 Million Households

A new analysis suggests that ‘social leasing’ programs could bring electric vehicles (EVs) within reach of around 3 million households across Europe. These national schemes aim to make EV ownership more affordable for low-income families by offering leasing options supported by government funding.

The proposed programs could be financed through revenues generated by the European Union’s carbon market and the Social Climate Fund. This funding strategy not only promotes clean energy but also targets social equity by helping those who typically struggle to afford electric cars.

Key features of the social leasing approach include:

• Reducing initial costs of EV acquisition
• Spreading payments over time through leasing
• Increasing EV adoption in economically disadvantaged communities

Expanding EV access aligns with the EU’s broader climate goals, pushing for cleaner transport and reduced greenhouse gas emissions. The initiative promises an environmentally friendly way to boost social inclusion and accelerate the transition to sustainable mobility.

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