Brian Cooke Director General SIMI
“Budget 2025 includes a number of incentives in relation to Electric Vehicles; a new Benefit-In-Kind (BIK) concession on home charger installations; the change of the definition for light commercial electric vehicles that will allow more vans avail of the lower €200 VRT rate; the previously announced extension of the SEAI purchase grants; and the extension of the €10,000 threshold on BIK for cars for 2025 (€45,000 tax free BIK on EVs). While we welcome these measures, the Motor Industry is disappointed that the BIK relief has not been extended beyond 2025, to encourage more company car purchasers to choose an EV, which in turn would accelerate the creation of an active used EV market.”