The UK government announced it will provide an additional GBP620mln of funding for electric vehicles (EV) as part of its strategy to achieve a carbon net zero economy by 2050.
In a strategy update issued ahead of the COP26 climate summit in Glasgow in November, the government said the extra funding will be for zero emission vehicle grants and EV infrastructure, including local EV infrastructure with a focus on local on-street residential charging.
In addition, a further GBP350mln will be allocated to the up to GBP1bn Automotive Transformation Fund (ATF) to support the electrification of UK vehicles and their supply chains.
“Significant new investment in vehicle grants and electric vehicle infrastructure will ensure that we see even more green vans delivering our goods and big improvements in local public chargepoint provision,” the strategy statement read.
The government reiterated its commitment to end the sale of new petrol and diesel cars by 2030 and hybrids by 2035.
Mike Hawes, chief executive of the SMMT, welcomed the extra funding for EVs and EV infrastructure.
“Consumers need choice and encouragement, irrespective of where they live or what they drive. The additional targeted funding for electric vehicles is welcome and will help ensure affordability for certain models,” he said.
“To ensure we have the reliable, accessible and nationwide chargepoint network this transition needs, however, requires a similar regulatory approach. The announcement of additional funds for on-street residential charging must energise much-needed private sector investment but consumers will only have confidence in the future if there are commensurate and binding requirements on the infrastructure sector. Combining regulatory commitments with financial ones is the key to a successful transition to zero-emission road transport.”