What's the news?

The Government has this week announced it is pumping £500 million of additional funding into the growing green car movement.

Between 2015 and 2020, the money will be used to 'accelerate the shift to Ultra-Low Emission Vehicles (ULEVs)' and includes such measures as continuing the existing purchase subsidy (currently set at £5,000) for customers buying new fully electric or plug-in hybrid vehicles.

Investment has also been earmarked for the creation of a network of rapid recharge points for ULEVs in the UK.

Drivers pay no road tax or London Congestion Charge when running a ULEV, and Deputy Prime Minister Nick Clegg said in a statement: "The UK has the potential to emerge as a world leader in the development, design and manufacture of green vehicles. Owning an electric car is no longer a dream or an inconvenience. Manufacturers are turning to this new technology to help motorists make their everyday journeys green and clean.

"This major investment is there to make driving an electric car affordable, convenient and free from anxiety about the battery running out. But it's also about creating a culture change in our towns and cities so that driving a greener vehicle is a no-brainer for most drivers."

Anything else?

One manufacturer that has welcomed this news is BMW, which has recently launched its dedicated 'i' range of ULEVs. Tim Abbott, the managing director of BMW UK, said: "The Government's commitment to supporting the transition to lower-emission vehicles comes at a crucial phase in the development of the electric car market.

"The development of rapid charging infrastructure, together with the continuation of the Plug in Car Grant, is particularly important in giving potential electric vehicle owners the additional confidence some of them might need to make the switch."

Since its launch in November last year, BMW already has a strong bank of well over 1,000 sales and confirmed orders for its fully-electric i3, which means that early adopters have certainly taken to the ULEV revolution. Perhaps the £500m funding will truly help accelerate such a change in the wider market.