A new report by the Society of Motor Manufacturers and Traders (SMMT) has warned the government to step up its support for the electric vehicle industry or risk falling behind other countries.
Race to Zero: Powering up Britain’s EV Supply Chain has stressed the need for an urgent response to initiatives such as the $370bn Inflation Reduction Act in America and the EU Green Deal Industrial Plan.
It sets out a Green Automotive Transformation strategy that would position Britain as one of the world’s most competitive locations for advanced automotive manufacturing, identifying investment, regulation and trade as the key pillars to future vehicle production in Britain.
Mike Hawes, SMMT Chief Executive, said, “Britain boasts a firm foundation of EV production, backed by low carbon energy, outstanding R&D and a highly skilled and productive workforce. We must not squander these advantages. With other parts of the world turbocharging their support for the zero emission vehicle transition, we need to step up to compete in this global race. Every part of the country has a stake in the switch and with fast, decisive action we can deliver for Britain the growth, jobs and green prosperity this country deserves.”
To date, more than £11bn has been invested by manufacturers in EV production locally, leading to fully electric or hybrid vehicles comprising almost a third of all UK-built cars last year, with an export value of £10bn.By 2025, the sector is anticipated to produce more than 20 models of electric cars, vans, buses and trucks, contributing to the economy and jobs in all regions of the country.
