Electric black taxi drivers offered additional month of payment holidays due to effects of COVID-19

Updated: Jun 22, 2020

Taxi manufacturers LEVC and finance firm Black Horse have agreed to extend the payment holiday support available to drivers of the TX electric taxi to an additional fourth month.

In March, cabbies who lease the new TX cab were able to apply for a 3 month payment holiday whilst the UK entered coronavirus lockdown. Whilst COVID-19 measures start to ease, work levels remain low, which has prompted the further offer of support.

It was however noted that if cabbies can afford to restart their payments, it is in their 'best interest' that they do so to avoid additional interest.

For cabbies unable to restart their payments, an additional one month payment holiday has been offered which will mean:

  • Payments will be deferred by a further month

  • The driver paying an extra amount for the holiday as cabbies take longer to pay back the amount borrowed.

Since January 2018, just over 4,000 electric taxis have been produced by LEVC, already preventing 30,000 tonnes of CO2 from entering the atmosphere and, as a result, saving 17.5 million litres of fuel.

Drivers looking to extend their payment holidays, and have next payments due to restart before 20 July, are being urged to log into their online accounts for further details of the options available to them.

Image credit: @MMogardo (Twitter)

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