U.K. EV Market in Flux: Spending Rises as Regulatory Challenges Mount

Researched by Industrial Info Resources (Sugar Land, Texas)--The U.K.'s electric vehicle (EV) market is navigating through a rapidly evolving landscape driven by zero-emission targets and increasing infrastructure investments.

With the goal to reduce its reliance on imports for batteries and raw materials (mainly from China), the U.K. is attracting investments in gigafactories and local EV battery production. It also mandated zero emission vehicles (ZEV) targets last year, aimed at reaching 100% zero-emission vehicle sales by 2035. This, however, has led to a significant burden on automakers, forcing rapid shifts in production strategies. The resulting backlash from automakers has prompted the U.K. government to undergo consultations regarding the set goals.

Although the fleet industry is driving a large share of EV sales, automakers remain concerned about weak non-commercial consumer demand. In the past few years, the U.K. government has made efforts to make its EV-charging network accessible and sufficient through various policies and grants. However, adoption remains slow.

Industrial Info is tracking 22 active EV-related capital projects, worth US$17.67 billion, in the U.K., with significant investment flowing into gigafactories and battery production. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here for the project reports.

One of the leading investors, Tata Group, through its subsidiary Agratas UK Ltd (Maharashtra, India), is expanding its automotive manufacturing gigafactory in Bridgwater in phases. Subscribers can click here for the project reports and here for the plant profile.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).