EVolution is a news, intelligence and analysis service dedicated to the emerging business of supporting electric and hydrogen-fuelled vehicles.

£34bn loss: Car industry could ‘crash’ if EV investment stalled

Battery Electric Vehicles are ‘fundamental’ to future prosperity of UK automotive sector

Mark Moran
10 October 2024
Electrifying Growth
Electrifying Growth

 

The total Gross Value Added (GVA) contribution to the UK economy of the UK automotive sector could rise by 35%, or £16.1 billion, by 2035 or decrease by 73%, or £34.1 billion, depending on how rapidly the sector transitions to the manufacture of Battery Electric Vehicles (BEVs), a new report finds.

A report commissioned by the Energy and Climate Intelligence Unit (ECIU), with analysis provided by CBI Economics, reveals a GVA difference between a best-case and a worst-case scenario...

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