EVs ‘could add £51bn a year to UK economy’

Electric vehicles (EVs) could add £51 billion per year to the UK’s economy. That’s according to a report commissioned by the Institute of the Motor Industry (IMI) which stated the […]

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By Jacqueline Echevarria

Electric vehicles (EVs) could add £51 billion per year to the UK’s economy.

That’s according to a report commissioned by the Institute of the Motor Industry (IMI) which stated the government needs to act strategically to make charging low emission cars convenient for drivers.

The report, which will be presented to a cross-party group of MPs on Wednesday, highlights the need for the government to focus on protecting both the economic growth of the motor industry and the safety concerns across the sector.

The nature and geographical structure of the country presents the opportunity for the nation to be world leading in the implementation of new car technologies, it added.

It suggests the government should also support the installation of 1,250 hydrogen refueling stations across the UK.

Furthermore, it also recommends the government should make sure there are enough qualified people in the EV sector.

Around 81% of independent garages are struggling to recruit highly skilled technicians and the country’s retail motor industry is failing to attract young people into technical roles, it added.

Professor Jim Saker from the Loughborough University and author of the report 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.”