Please note that this page contains information and links most relevant for people living in Scotland.
The switched on taxis loan is now closed
If you're interested in being contacted if the loan reopens next year, you can register your interest using the form below.
About the switched on taxis loan
If you’re considering an electric taxi or hackney cab for your business and you operate in Scotland, you might be eligible for an interest-free loan, repayable over six years. The switched on taxis loan is funded by Transport Scotland and can help you purchase new and used electric vehicles.
The loan is open to operators and owners of hackney cabs and to private-hire taxi drivers. The loan amount available varies depending on how your business is registered and if you are interested in purchasing a new or used vehicle.
New vehicles:
limited companies can borrow a maximum of £150,000
sole traders or partnerships can borrow a maximum of £75,000
Used vehicles:
limited companies can borrow a maximum of £90,000
sole traders or partnerships can borrow a maximum of £75,000
This means you can make multiple applications (subject to availability of funds), but you cannot borrow more than the total funding available at any time.
The loan covers different vehicles depending on whether you operate hackney cabs or private hire vehicles.
If you’re seeking funds for a new purpose-built electric black cab, the loan can cover the cost of purchasing a vehicle eligible under the taxi category of the UK OZEV plug-in grant list.
If you’re seeking funds for a new non-purpose-built electric taxi vehicle, the loan can cover the cost of purchasing:
electric cars (must cost £50,000 or less) – maximum loan amount £30,000
electric vans (must cost £50,000 or less) – maximum loan amount of £35,000
Our cost caps include VAT.
If you’re seeking funds for a used purpose-built electric black cab, the loan can cover the cost of purchasing one used, purpose-built, electric black cab (included in the UK OZEV pPlug-in gGrant list) up to a maximum loan amount of £50,000.
If you’re seeking funds for a used, non-purpose-built, electric taxi vehicle, the loan can cover the cost of purchasing:
electric cars (must cost £30,000 or less) – maximum loan amount of £30,000
electric vans (must cost £30,000 or less) – maximum loan amount of £30,000
How to register your interest
If you would like to your interest in the switched on taxis loan should funding reopen next year, simply add your details to the form below.
It’s important that you read the loan eligibility criteria. This document gives full details of what the loan can cover and who is eligible to apply. Please note that our eligibility is subject to change year-on-year.
Applying for a new electric vehicle?
If you’re applying for a purpose-built, electric black cab, you must provide the following in your application:
Your fleet review or vehicle comparison report provided by your sustainable transport coordinator. This will be provided after you make an enquiry.
Your quote(s) for the vehicle(s) you plan to purchase with the loan.
If you’re applying for a non-purpose-built, electric taxi, you must provide the following in your application:
your V5 registration certificate – we’ll need all pages of your certificate
your quote(s) for the vehicle(s) you plan to purchase with the loan
Applying for a used electric vehicle?
Whichever used vehicle you choose to purchase with the loan, it must be purchased from an acceptable dealership. The dealership must be either:
This dealership would be where their sales are conducted in-person, as well as through their online platforms. This dealership must be accredited by the Motor Ombudsman or be part of a trade association signed up to the National Conciliation Service.
This dealership must have an up-to-date online presence, own the vehicles for sale and have reputable customer support services, as well as robust warranty procedures in place. Additionally, this dealership must transparently outline, at the very least, a vehicle’s age, battery capacity, mileage and the interior and exterior condition of the vehicle(s) on any sale document(s) provided.
Regardless of whether you’re applying for a new or used purpose or non-purpose-built vehicle, you might also need the following for your application:
If you’re applying as a sole trader or partnership, your most recent tax documents (SA103/SA100, SA800).
If you’re requesting £75,000 or more of funding, your most recent full year of financial accounts.
Your confirmation that you won’t purchase the vehicle(s) before receiving a loan offer. If you do, we won’t be able to accept your application.
What happens after you apply?
Here is a quick outline of your application journey:
You submit your application
We aim to provide you with a response within 10 working days. This could be a request for further information, which can delay your next steps
You have a loan offer and accept this within 14 days
You submit all claim documents. Any missing information will be queried, which can delay you receiving payment
We aim to process your claim documents, within 15 working days
You’ll receive your funding within 3-5 working days
Last updated: 20 November 2023
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