Comment on Atlantic Declaration

Commenting on the news that UK businesses including electric car firms could gain access to US green funding under the Atlantic Declaration announced by Rishi Sunak and Joe Biden [1], Colin Walker, Transport Analyst at the Energy and Climate Intelligence Unit (ECIU) said: “With electric vehicle manufacturers already choosing to switch investments from the UK to the US, this could be a big deal, but the devil will be in the detail.

“The reality is that, while the US has been investing billions for months in upping its electric vehicle manufacturing base and attracting businesses from around the world, action by the UK is lacking. The UK won’t be announcing its own plans until the autumn, and a decision on investment in a battery factory for Jaguar Land Rover still hangs in the balance.

“Given we export 80% of the cars we make and major markets including US states are putting EV policies in place, unless the UK car industry transitions and does it fast, by 2030 over £13bn of car exports could be at risk.” [2]

ENDS

Notes to editors:

1. The Atlantic Declaration: a framework for a twenty-first century US-UK economic partnership: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1161879/THE_ATLANTIC_DECLARATION.pdf
2. ECIU: Failure to develop electric car industry puts £13bn of UK exports in jeopardy: https://eciu.net/media/press-releases/2023/failure-to-develop-electric-car-industry-puts-13bn-of-uk-exports-in-jeopardy
   

For more information:

George Smeeton, Head of Communications, ECIU, Tel: 07894 571 153, email: george.smeeton@eciu.net