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Government to inject millions into electric vehicle firms despite mandate backlash
['Maisie Grice', 'Investment Reporter']
City AM
Government to inject millions into electric vehicle firms despite mandate backlashThe government are injecting £65m into EV firmsThe government will invest £65m into firms producing zero-emission vehicles, despite backlash from the automotive industry over its controversial electric vehicle mandate.
The funding includes £50m for car firms and research partners to help produce electric vehicles at a larger scale.
The funding is part of the government’s £4bn Drive35 programme, an initiative intended to speed up the electrification of the car industry.
The British car industry generates £25bn for the economy, and is directly responsible for 183,000 jobs.
The Conservatives have previously called the 2050 net zero target “impossible”, confirming they would scrap the EV mandate if they reentered government.