The Society of Motor Manufacturers and Traders (SMMT) said that while almost every EV component is already built in UK plants, the capacity needs to be scaled up rapidly to secure the sector’s long-term future.
The SMMT wants the government to shore up Britain’s ability to compete as other countries increase backing for their own automotive sectors. This includes initiatives such as the US' $370bn (£306bn) Inflation Reduction Act and the EU's Green Deal Industrial Plan.
The SMMT has set out a blueprint, dubbed the 'Green Automotive Transformation' strategy, designed to position Britain as one of the world’s most competitive locations for advanced automotive manufacturing.
The UK plans to ban the sale of new petrol and diesel cars by 2030, but MPs have warned that the government faces a “huge challenge” to make this happen on time.
The strategy urges the government to lower the risk of investing in the EV sector with more competitive incentives...