Press release

25 Nov 2020 London, GB

Spending Review funding for EVs is a welcome step but further investment may be needed

Commenting on the Chancellor’s Spending Review today, David Borland, EY’s UK Automotive Leader, said: “The UK can be a long-term competitive player in automotive manufacturing if there is significant investment in battery development, production and the associated supply chain. The investment confirmed in the Spending Review is a welcome step in the right direction for both the UK automotive sector and consumers.

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Related topics Automotive

Commenting on the Chancellor’s Spending Review today, David Borland, EY’s UK Automotive Leader, said:

“The UK can be a long-term competitive player in automotive manufacturing if there is significant investment in battery development, production and the associated supply chain. The investment confirmed in the Spending Review is a welcome step in the right direction for both the UK automotive sector and consumers.

“The consumer grants will reduce the impact of the higher purchase price of electric vehicles, and will be an important factor in the shift to zero emission vehicles.

“Investment in the energy sector and charging infrastructure is also a critical step forward, alleviating the concerns of many potential EV buyers around ready access to charging at home, charge time and range anxiety. But given recent estimates of the number of charging points needed across the UK to support mainstream EV adoption by consumers, further investment may still be needed.”