Electric cars worth £51bn to UK economy ‘if Government acts now’

The UK Government will lose out on major economic benefits unless it makes a significant investment in upgrading the nation’s electric vehicle (EV) charging infrastructure and upskilling the motor industry, an independent academic report will warn this week.

The report, commissioned by the Institute of the Motor Industry (IMI), concludes that the overall economic and social benefit of EVs, connected and autonomous vehicles could be in the region of £51bn per year by 2030, with the potential for 320,000 newly-created industry jobs.

Researchers will present the report’s findings to a cross-party group of MPs on Wednesday (13 April), calling on the Government to focus on protecting the economic growth of the motor industry by acting strategically to make charging low emission cars more convenient for drivers, and ensuring that there are enough skilled technicians to service and repair them.

Loughborough University professor Jim Saker, who will host Wednesday’s Parliamentary meeting, said:

“The UK, by the nature of its size and geography, has a natural advantage in the rapid adoption of vehicles with the new power train technologies, but it is dependent on Government investment to pump prime this initiative.

“Without proper regulation, a skills gap will emerge with only a limited number of technicians working in the franchised sector being able to service and repair new technology vehicles. If this trend is found to be true then it is likely that the independent sector of the retail automotive sector will decline. This will mean that the market will fail to open up and develop to the benefit of the UK economy.”

Read more: Edie.net

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