LEVC introduces £1,500 finance boost for electric TX taxi following government grant cut

Image credit: LEVC

LEVC (London Electric Vehicle Company) has responded to the recent reduction in the UK Government's Plug-in Taxi Grant by introducing a £1,500 finance deposit contribution on its TX model.

The boost aims to alleviate the impact of the grant’s decrease from £7,500 to £6,000, which took effect earlier this month.

The offer applies to all new TX taxi models and is available through LEVC Financial Services. It includes terms of zero customer deposit and a subsidised annual percentage rate (APR) of 10.51%.

Since its launch in 2018, the TX taxi has become known as the world’s most advanced purpose built electric taxi. Over half of London's black cabs are now zero-emission capable, largely due to the adoption of the TX. The vehicle is available in more than 25 countries and is celebrated for its eco-friendly credentials.

LEVC's TX cabs have collectively covered over 780 million miles worldwide, significantly reducing urban CO2 emissions by more than 240,000 tonnes. This achievement underscores the pivotal role of the TX in enhancing sustainable urban transport solutions across the globe.

Chris Allen, LEVC Managing Director, said: “Demand for our award-winning TX continues to accelerate, but with the recent £1,500 reduction in the PiTG coupled with currently high national interest rates, drivers need support to continue their transition into new, green taxis.

“LEVC recognises this and it’s why we’re making this new contribution and subsidised APR finance offer available, initially bridging the gap for our customers. Looking ahead, LEVC will continue to work closely with government to provide long term support to the trade, including provisions beyond the current one-year PiTG extension.”