UK Electric Vehicle Ownership Must Rise 11,000%
Electric car ownership must rise 11,000% in the UK to hit Boris Johnsons NetZero target. This presents huge challenges and once in a lifetime investment opportunities. With the announcement of a ban in 2030 of all petrol and diesel vehicles and hybrids to follow 5 years later, never before has there been more of a reason for companies to look at ways to maximise their impact in the new EV environment.
The government’s announcement stated that £1.3 billion will be invested to provide EV charge points for homes, streets and motorways across England, with £582 million to be used for grants to help consumers purchase Evs and another £500 million is being invested into the development of battery production and recycling. In total 2.8Bn of investment is set out by the government for Ev’s and their technology infrastructure and potentially 3 times more capital inflow from the private sector.
Reports released earlier this year have shown that tens of millions of Ev’s will need to be manufactured to meet demand, with £525 million to be invested in nuclear power to help provide all the extra electricity that will be required to power millions of electric vehicles on UK roads.
The government’s 10-point plan aims to boost jobs and drive the UK towards its ambition of achieving NetZero by 2050.
The prime minister said: “My 10-point plan will create, support and protect hundreds of thousands of green jobs, whilst making strides towards NetZero by 2050.
“Our green industrial revolution will be powered by the wind turbines of Scotland and the North East, propelled by the electric vehicles made in the Midlands and advanced by the latest technologies developed in Wales, so we can look ahead to a more prosperous, greener future.”Boris Johnson
Boris Johnsons 10 point plan will turn the UK into the worlds number one centre for green technology with London poised to be the World Capital of Green Finance.