From Breakingviews - UK car targets count on the kindness of strangers
The UK has a long way to go. Last year, some 17% of cars registered were fully battery electric. The good news is that cheaper EVs are coming, thanks to the imports from the likes of China. The big question is how many of those rides will be made in the United Kingdom.
UK car production has roughly halved since the Brexit vote to just 900,000 cars last year, according to Inovev. The shift to electric vehicles will see carmakers want robust local battery supply chains and cheap energy, in which the UK is lagging. And Britain will need to compete with the U.S. and the EU, which are aggressively subsidising green industries, as with the United States’ $370 billion Inflation Reduction Act.
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