Harnessing the Electric Vehicle Revolution - Quick guide

Posted 12/7/2018 by George Jamison
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EV Revolution  

Clarehill Associates were delighted to be invited to a reception at the House of Commons last week to discuss the Electric Vehicle Revolution with Regen SW.

In 2017 only 2% of UK car sales were EV models.

By 2025 70% of new car sales could be EVs.

During the speeches, a number key issues were highlighted and for those of you who are interested, here is a quick summary:

EVs could become the vehicle of choice towards the mid 2020s and dominate the market as the end date for petrol and diesels approaches due to:

  • Manufacturers bringing out new models with greater range and efficiency
  • Cost falling as manufacturing reaches scale
  • Consumer acceptance of EVs driven by concerns over pollution and low running costs
  • China continuing to set the international pace in market demand and supply

And EV could reach a tipping point even quicker by 2021 where an overwhelming consumer demand for EVs leads to a rapid and disruptive market expansion.

Demand caused by:

  • Low running costs and price reductions
  • Pollution and environmental concerns e.g. cities penalising petrol/diesels
  • New models and marketing driving lifestyle choices
  • New technology solving range and degradation issues
  • Resale market for diesel/petrol collapsing

With its successful automotive industry and strong government backing the UK is in an excellent position to play a leading role in development of EVs.

The government will need to get serious about tackling emissions and, of course, get a Brexit deal that works for a sector that is integrated across Europe.

Thanks to Regen SW, James Heappey MP and Dan Monzani, director of Energy Security, Networks and Markets at BEIS

Link: Harnessing The electric vehicle revolution

 

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