UK future as leading manufacturer of electric vehicles. Subscribe to Electric Vehicle News Bitesize Podcast for FREE to hear more!
The Society of Motor Manufacturers and Traders has released a new blueprint for the UK’s electric vehicle industry, warning that the UK’s ability to compete as a leading Electric Vehicle manufacturer is “at risk”.
Under the scheme, manufacturers have invested more than £11bn in UK electric vehicle production, driving market growth, with electric and hybrid vehicles accounting for almost a third of all cars produced in the UK last year and generating exports worth £10bn.
This upward trend is set to continue as the Society of Motor Manufacturers and Traders predicts more than 20 models of electric cars, vans, buses and trucks will be produced in the UK by 2025.
The UK is the centre of electric vehicle manufacturing, and 17 of the world’s largest auto parts suppliers are located in the UK. The number of companies in the UK’s electric vehicle supply chain has grown by 25% over the past five years.
Furthermore, Society of Motor Manufacturers and Traders Electric Vehicle supply chain dictionary shows that almost all components needed to manufacture electric vehicles are manufactured in the UK, with production taking place across the country.
However, the UK’s position as the leading Electric Vehicle market is under threat as other countries significantly increase political and economic support for EVs, creating more attractive opportunities for investors.
These include a $370bn (£304bn) anti-inflation bill and the EU’s Green New Deal industrial plan.
To address this, the Society of Motor Manufacturers and Traders draft outlines a “green car transition” strategy to help secure the UK’s position as one of the world’s most competitive manufacturing bases for electric vehicles.
To underpin UK Electric Vehicle manufacturing, the strategy identifies three key pillars: investment, regulation and trade.
To boost investment in the UK Electric Vehicle industry, the Society of Motor Manufacturers and Traders proposes to de-risk private capital, provide more competitive incentives and support the country’s future Electric Vehicle ‘unicorns’.
The Society of Motor Manufacturers and Traders also recommends regulatory reforms to expedite the delivery of new manufacturing equipment and maximize trade opportunities to ensure the safety of critical commodities.
“Britain boasts a firm foundation of Electric Vehicle production, backed by low carbon energy, outstanding research & development and a highly skilled and productive workforce,” said Mike Hawes, chief executive at The Society of Motor Manufacturers and Traders.
“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.”
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