Monday, October 2, 2023

Electric vehicle sales growth in the UK is hampered by high prices and a lack of charging infrastructure

According to the Society of Motor Manufacturers and Traders (SMMT), new electric vehicle (EV) sales are increasing in the UK, with an EV being sold almost every minute. But despite their growing popularity, there are still significant barriers to widespread adoption of electric cars.

A recent SMMT study found that 68% of British drivers are interested in switching to electric vehicles, but are deterred by high prices and a lack of infrastructure. The study also found that only 2% of respondents planned to make the switch this year, with the majority saying they could wait until 2024 or even later.

One of the main obstacles is the cost of electric vehicles. Cheaper electric models such as the £26,000 BYD Dolphin and MG4 EV are starting to hit the market. However, the low prices of Chinese electric cars have attracted the attention of the European Union, which is considering imposing tariffs on these vehicles.

Another challenge is the lack of charging infrastructure. The study found that two-thirds of respondents were deterred from purchasing an electric vehicle due to the severe lack of public charging stations. Although BP Pulse recently opened the UK’s largest charging station, the SMMT is calling for binding charging point rollout targets to address this issue.

Additionally, the UK government’s removal of electric vehicle subsidies makes the country the only major European country without a taxpayer-funded incentive program. To make electric vehicle ownership more affordable, SMMT is calling for a reduction in VAT on sales of new electric vehicles, as well as a reduction in VAT for home and on-site charging. public.

In summary, while demand for electric vehicles is growing in the UK, challenges such as high prices and the lack of adequate charging infrastructure are preventing their widespread adoption. Efforts to address these issues, including introducing more affordable models and expanding charging networks, are critical to encouraging the transition to electric vehicles and supporting the electric vehicle industry’s recovery from the pandemic.

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
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