The recently launched Porsche Panamera S E-Hybrid, billed as the world’s first plug-in hybrid executive saloon, has gained OLEV (Office for Low Emission Vehicles) grant approval in the UK.
Few cars qualify for the government-backed scheme, which entitles buyers of qualifying ULEV (ultra-low emission vehicles) models to a 25% grant towards the cost of the car, up to a maximum of GBP5,000. Other qualifying models include the Nissan Leaf EV and the Vauxhall Ampera and Chevrolet Volt range extender hybrids.
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Available since January 2011, the grant is designed to encourage vehicle manufacturers to develop electric and green cars and to incentivise consumers to buy them.
The Porsche combines a three-litre V6 petrol engine with lithium-ion battery and electric motor. Official fuel economy is up to 91mpg with CO2 eemissions of 71g/km.
The S E-Hybrid can run solely on electric power for up to 22 miles and maximum EV speed is 84mph.
Low fuel consumption and emissions give business buyers a company car tax liability of 5% (paid as a ‘benefit in kind’ based on the P11D value of the vehicle), exemption from vehicle excise duty [annual tax] as emissions place it in ‘band A’, exemption from first gegistration fee, exemption from the London congestion charge (following an initial registration fee to qualify), and a 100% first-year allowance (FYA) – any vehicle with an official CO2 figure of less than 95 g/km is eligible for 100% of first year capital allowance under government rules extended to 31 March 2015.
