There are approximately 31 million petrol and diesel cars on the UK’s roads and the drive towards greener motoring is going to need huge investment to get people to make the switch and cut pollution.
The Government has banned the sale of new petrol and diesel cars from 2030 and self-charging hybrids from 2035, but in order for motorists and professional drivers to make the switch, many currently need help affording the more expensive electric alternatives.
New drive
Instead of offering financial help for vehicle buyers, the initiative is focused on innovation and developing economies of scale, which should make EVs a more affordable option in future.
Business Motoring reports that the Government’s DRIVE35 initiative will see £2.5 billion worth of funding aimed at “supporting the transition to zero-emission vehicle manufacturing and securing the future of the British automotive sector”.
The project will also encourage transformation and innovation, with funding competitions available.
DRIVE35 is part of the Advanced Manufacturing Sector Plan and will support companies of all sizes working across the automotive supply chain.
Business and Trade Secretary Jonathan Reynolds told Business Motoring: “We’re helping British carmakers get to the front of the pack by working hand in hand with investors to build a globally competitive electric vehicle supply chain in the UK as we deliver our Plan for Change.
“We’re taking action to back the industry for the future with the biggest set of announcements for the sector in the last decade.”
Investment
Among the beneficiaries, Astemo Ltd will reportedly invest more than £100 million in EV component production in Bolton, supporting more than 220 high-value jobs.
And Dana is investing £15m to support EV parts manufacturing, safeguarding over 100 skilled roles in the West Midlands.
Mike Hawes, chief executive at the Society of Motor Manufacturers and Traders (SMMT), said: “The creation of this dedicated automotive programme is further evidence of the sector’s importance to economic growth. DRIVE35 has the potential to unlock investment and innovation in the UK, supporting jobs and creating wealth across the country.”
Ian Constance, CEO of the Advanced Propulsion Centre UK and Zenzic, added: “This new investment underlines the commitment from Government to secure advanced manufacturing in the UK.
“I am pleased that the APC, Zenzic, and its delivery partners are here to facilitate a new wave of funding in the automotive industry, supporting innovation, driving scale-up, and enabling transformation.”
In order to make greener motoring sustainable, initiatives such as DRIVE35 are more likely to deliver results than discounts and grants towards the cost of a new EV. For drivers to make the necessary switch from fossil fuel to electric power, every aspect of the motor manufacturing industry needs to be geared towards producing and developing EVs. The more they become the norm, the more affordable they should become.
And making the UK a world-leading EV manufacturer will not only boost the economy, it will also help it become more efficient in the global markets and supply chains.
