Comment on 18% increase in global EV sales

“This is further proof that global EV sales are only going in one direction – up. Since 80% of the cars built in the UK are exported, [2] the future of our car industry rests on its ability to make a rapid and successful transition to building the electric vehicles that our major export markets increasingly demand. 
 
“Analysis by CBI Economics reveals what is at stake. Support our car industry in making a rapid transition to building electric vehicles, and its economic output could rise by 35%, or £16bn, and 167,000 new jobs could be created. Get stuck producing the petrol and diesel vehicles that our major export markets are increasingly moving away from, and its economic output could collapse by 73%, or £34bn, and over 400,000 jobs could be lost [3]. Heeding the calls of those who claim that the best way to protect our car industry is to slow down its transition to EVs would be a recipe for disaster.
 
“The Government has a critical role to play in supporting the car industry in making this transition. Maintaining a stable regulatory environment is crucial, meaning the Government should stay committed to the ZEV Mandate and resist calls for it to be weakened. Not only is the mandate driving down EV prices and driving up sales as manufacturers compete to hit their EV sales targets, it is providing investors with the certainty to our billions into our car industry, our charging network, and the renewables which will provide the power. Any major changes would jeopardise this investment and put jobs at risk.”