The EV revolution notches up a gear
It's been a big week for EV as the UK government announced its plans to ban the sale of petrol and diesel cars from 2030. A deadline date that has been brought forward twice already now, having previously been pinned for 2040 and subsequently, 2035.
The news comes as part of a wider green plan being rolled out by the government to tackle climate change. As we know, it’s a hugely important subject and one that needs to be addressed to ensure the planet can continue to be enjoyed for generations to come.
A 10-point plan has been announced with the motor industry being highlighted in terms of a greener solution. In the official government document, it states that the automotive industry will be ‘accelerating the transition to electric vehicles, and transforming infrastructure to support electric vehicles’ bringing the EV scheme forward in this country by 10 years.
To date, less than 1% of cars in the UK are powered by electricity, so there’s certainly an almighty hurdle to overcome in order to meet the government’s target. There’s plans for a huge amount of investment in the initiative, with hundreds of millions being assigned by the treasury.
A whopping £500 million will be invested in the development and production of electric vehicle batteries alone. On top of this, a further £582 million will be ring-fenced to commercialise the manufacturing of electric and hybrid vehicles to help make them more affordable for consumers.
So where does that leave the used car market? Well, there’s a bit of light relief for car dealers who may feel concerned about the inevitable changes. The ban will affect new cars only which means that used cars will remain unaffected. In short, used car customers will still be able to buy petrol and diesel cars after 2030.
Certainly there’s a long and no doubt bumpy road ahead to make EV and hybrid vehicles affordable for consumers. It also raises concerns about the practicality of enforcing this change nationwide; ensuring public spaces are equipped with enough charging stations, and the roll-out of charging and access points in people's homes.
This is one story we’ll be keeping our eye on.