£106bn reward for net-zero transition

The UK automotive sector is urging all political parties to supercharge the UK’s transition to net zero by adopting five key pledges – and secure a £106bn windfall for the UK economy.

The Society of Motor Manufacturers and Traders has launched its Manifesto 2030: Automotive growth for a zero-emission future and called on every party to create the conditions for a 10-fold rise in annual battery electric vehicle (BEV) production to more than 750,000 units per year by 2030.

It says this would equate to a cumulative £106bn worth of products.

To drive this transition, the SMMT is now calling for a Green Automotive Transformation Strategy that enables innovation, attracts investment and secures manufacturing of clean technologies in the UK; a commitment to develop a viable recharging and refuelling network throughout the UK; the development of a one-stop-shop national upskilling platform and a dynamic immigration system that attracts global talent; policies to secure access to global market for tariff-free exports; and access to cost-effective zero-emission energy to power the clean tech revolution.

Mike Hawes, SMMT chief executive, said: “The government has set the industry tough targets and we are committed to meeting them. But we are in the middle of the most fiercely competitive investment landscape of a generation and need a UK response, urgently, using every policy, every fiscal and regulatory lever, to make Britain the most attractive place to invest. The automotive industry rises to every challenge, so we set out today a challenge to all political parties: back us with the right conditions and we will turn our obligations into opportunities for our industry, for jobs, for the environment and for the UK.”