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Uncertainty Surrounding Petrol and Diesel Car Ban Raises Concerns for EV Investment

by Max Zaicevs 26 Jul 2023
Petrol and diesel car ban doubt sparks warnings on EV investment

The UK government has been warned that uncertainty over the ban on petrol and diesel cars, which is set to come into effect in 2030, could lead to a lack of investment in electric vehicle (EV) infrastructure and production.

The ban, which was originally announced last year, aims to reduce carbon emissions and improve air quality, but some experts are concerned that the lack of clarity on the policy could put off investors.

Green Alliance, a think tank focusing on environmental issues, has warned that the government needs to provide a clear roadmap for the transition to EVs, including details on charging infrastructure, grid capacity, and recycling for EV batteries.

The warning comes as a new report from the Society of Motor Manufacturers and Traders (SMMT) revealed that the UK automotive industry has already invested £54bn ($73bn) in EV production, with £16bn ($22bn) of that invested in 2020 alone.

However, the SMMT also warned that the industry needs support from the government in order to continue investing in EV production and infrastructure, including financial incentives and a clear plan for the transition to EVs.

The UK government has recently announced plans to ban the sale of new petrol and diesel lorries by 2040, and is considering bringing forward the ban on petrol and diesel cars to 2035.

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