Government-led strategy needed to maintain electric vehicle competitiveness, report finds
The UK’s ability to compete in the electric vehicle market could be undermined unless government responds to international competition, the Society of Motor Manufacturers and Traders (SMMT) warned today.
The organisation’s blueprint - Race to Zero: Powering Up Britain’s EV Supply Chain – outlines the UK’s strengths in advanced automotive manufacturing, low carbon energy and R&D, but stresses the need for an urgent response to initiatives such as the $370bn Inflation Reduction Act in the US, and EU’s Green Deal Industrial Plan. The blueprint sets out a Green Automotive Transformation strategy that the SMMT believes would position Britain as one of the world’s most competitive locations for advanced automotive manufacturing.
The strategy has identified investment, regulation and trade as key to securing future vehicle production in Britain. De-risking private capital with more competitive incentives and action on energy costs, with support for the next British ‘unicorns’ in batteries and renewables, will stimulate greater investment in EV enterprises, the blueprint states.
Similarly, reform of regulation will accelerate delivery of new production facilities and renewable energy generation. Maximising trade opportunities, meanwhile, would help secure access to essential raw materials. Such moves will secure the essential gigafactories which can underpin EV production.
Register now to continue reading
Thanks for visiting The Engineer. You’ve now reached your monthly limit of news stories. Register for free to unlock unlimited access to all of our news coverage, as well as premium content including opinion, in-depth features and special reports.
Benefits of registering
-
In-depth insights and coverage of key emerging trends
-
Unrestricted access to special reports throughout the year
-
Daily technology news delivered straight to your inbox
WildFusion helps robot traverse difficult terrain
<a...