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“We can’t ignore the fact that other countries and blocs are powering up their political and economic backing for their own automotive sectors. The US has announced a $2 trillion [£1.6tn] package of measures in pursuit of clean technology, including its flagship $370bn [£300bn] Inflation Reduction Act. The EU is proposing a Green Deal Industrial Plan, easing restrictions on state aid for these essential investments. Other countries, especially those in Asia-Pacific, for instance, already have a head start in battery production.”
The UK will be unable to match the scale of the US’s investment, its economy being around 10 times smaller, but policies to stoke confidence (and thus investment) are key, the SMMT argued earlier this month.
Bloomberg has reported that Green Day will include several measures aimed at safeguarding jobs in the UK’s ‘green’ industries, including automotive, citing people said to be familiar with the matter.
The Guardian has added that EV manufacturing will be a focus, with potential requirements for brands to sell more of them.
Such plans were previously floated under the leadership of Boris Johnson, whose Department for Transport proposed a requirement that 22% of new-car sales in the UK be EVs by 2024. Under this strategy, 52% of sales would need to be electric by 2028 and 80% by 2030, the cut-off date for sales of new ICE cars.
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