Automotive sector

Automotive industry invests nearly £11bn in first ‘electric decade’ | National Manufacturing News

The UK car industry has invested nearly £11 billion in R&D and production of electric vehicles and batteries since 2011, according to the latest figures.

The Society of Motor Manufacturers and Traders (SMMT) said £10.8 billion had been spent on electric vehicle production and gigafactories in the UK since 2011, with billions more invested around the world to put new technologies on the market.

During Britain’s first ‘electric decade’, kicked off by a £420million investment in Sunderland for the UK’s first mass-produced battery-electric car, more than ten carmakers have invested in communities across the country to create jobs and design, design and build. green vehicles for domestic and export markets.

While the overall UK gigafactory capacity is currently just 2GWh, the £10.8billion figure includes significant battery production commitments that will come online in the coming years. coming soon, which is expected to bring UK capacity to around 41 GWh by 2027.

SMMT chief executive Mike Hawes said: “The UK automotive industry has set its sights – to take on the Net Zero challenge – and has backed that ambition with money, investing heavily over the first decade. British electric.

“As we enter the second, the stakes are higher, with the arrival of some of the toughest regulations in the world, regulations that will seek to determine the pace of change in a market constantly buffeted by headwinds.

“But mandates on manufacturers alone will not drive the market. Delivering Net Zero needs a competitive industry and a competitive market. We need a comprehensive strategy with binding targets on the supply of kiosks top-up, attractive tax and purchase incentives, and a reliable, accessible and affordable user experience.

“We need a universal right to electric vehicle charging, for all drivers, wherever they live, wherever they travel and whatever their needs.”