The Faraday Institution, which supports UK battery development, estimates that the UK will be producing nearly 1.6 million electric vehicles (EVs) per year by 2040. The report ‘UK electric vehicle and battery production potential to 2040’ can be downloaded from the Faraday Institution’s website at: https://faraday.ac.uk/publications/.
The Government continues to create the right environment to support an increase in the production of EVs in the UK. We have announced up to £1 billion through the Automotive Transformation Fund to develop UK supply chains for the large-scale production of EVs and for further research and development (R&D). £10 million of funding will enable the first wave of innovative R&D projects to scale-up manufacturing of the latest technology in batteries, motors, electronics, and fuel cells. The Government is also encouraging industry to put forward investment proposals for gigafactories and to support supply chains to mass manufacture cutting-edge batteries for the next generation of EVs, as well as for other strategic electric vehicle technologies.