Skip to content

Drivers prepared to take out higher car loans for electric cars, report says

Motorists are prepared to take out higher car finance plans, paying a premium of up to 30 per cent, to purchase a zero emission car, research reveals.

Motorists are prepared to take out higher car finance plans, paying a premium of up to 30 per cent, to purchase a zero emission car, research reveals.

But environmentally aware new and used car buyers are divided on compromising on space, performance and utility, Liberty Electric Cars says.

Some 65 per cent of people questioned by the company at the Eden Project Green Car Show said they would be prepared to pay nearly a third (30 per cent) more for a zero emission electric car.

But nearly half (45 per cent) said they would not be willing to downsize to a small city car with less performance in order to go green.

Barry Shrier, chief executive officer of Liberty Electric Cars, says the results give a clear message for product development.

"As car buyers move to more environmentally-friendly technologies they want the best of both worlds; cars that deliver on performance, safety, functionality and style, without the high cost to the environment," he adds.

The firm is currently developing the world's first zero emission Range Rover, which will travel for more than 200 miles, or further with the onboard generator.

It is investing £30 million into re-engineering large luxury cars and 4x4s into electric vehicles.

The Oxford-based company says prices will range between £95,000 and £125,000 and the project will create around 250 technology and manufacturing jobs.

ADNFCR-841-ID-18656398-ADNFCR© Adfero Ltd

Posted by on

Back to June 2008

Back to top