Chancellor gives boost for zero-emission vehicle production in Autumn Statement
Jeremy Hunt announced a series of measures to help businesses
Chancellor Jeremy Hunt has today announced £2bn of future investment into zero-emission vehicle production in the UK as it looks to build on strategic industries.
Revealed as part of the Chancellor’s Autumn statement, Hunt said that £2bn of support would be available for the five years to 2030 for zero-emission vehicle manufacturing. The Chancellor said the announcement had been ‘warmly welcomed by Nissan and Toyota’, which both have significant car production operations in the UK, in Sunderland and Derby respectively.
It follows recent news from Jaguar Land Rover (JLR) and Mini that they were committing to future electric car production in Britain after previous uncertainties.
The automotive segment had minimal mention during the Autumn Statement address, however, but the Chancellor did announce plans to improve access to the National Grid. This is often a barrier to installing and connecting new electric car chargers, delaying their roll-out. This change has been welcomed by motoring experts.
Edmund King, president of the AA, said: “To help smooth the electrification journey, The AA welcomes plans to speed up access to the Grid, investment in zero emissions within the automotive industry and funding to attract new engineers into the sector.
Despite this, many experts said more is needed to help drive electric car growth, particularly in relation to incentives to help customers make the switch.
King added: “We would still like to see incentives for drivers to help them take part in the zero-emission transition when they are ready to do so. Hopefully, these incentives, a further freeze in fuel duty, and a cut in Insurance Premium Tax will be outlined in the Spring Budget.”
