The UK could become a global player in EV batteries, but only if billions of pounds are invested immediately to create a battery supply chain, according to a report from the Green Finance Institute’s Coalition for the Decarbonisation of Road Transport (CDRT).
The report highlights the opportunity to invest in a sector which it suggests could benefit the UK economy by £24bn by 2025, but it also warns that there is a narrow window for the UK to secure a major share of the market and that significant barriers to investment must be overcome.
The global car industry is now in rapid transition because meeting global climate targets relies on phasing out internal combustion engine (ICE) vehicles. In the UK, where road transport accounts for around a quarter of national greenhouse gas emissions, the sale of new…