The EV Feed’s Post

The UK's journey towards a net-zero economy hinges on the mass adoption of EVs, yet significant hurdles remain. Despite notable progress, transport remains the largest emitter of greenhouse gases in the UK. Our Future of Transport Report underscores the urgency of transitioning to EVs to meet emission targets and stimulate economic growth. While the number of electric and hybrid vehicles has surpassed 1.5 million, concerns persist among drivers and fleet managers. Cost remains a barrier for many, along with concerns about charging infrastructure and communication gaps among fleet managers. Also, volatility in residual values, increasing pricing dynamics, doubts on the ultimate technology standards, and uncertainty on the regulatory landscape have added to headwinds to faster adoption, However, businesses are leading the charge towards sustainability, recognizing the importance of EV adoption in fulfilling sustainability commitments and enhancing credentials. To accelerate the transition, we call on the UK Government to prioritize the rollout of charging infrastructure, maintain incentives for EV adoption, improve consumer information on EVs, and support the development of the UK battery manufacturing industry. How can we collectively overcome barriers and drive the widespread adoption of electric vehicles for a greener, more sustainable future? #ev #sustainability #netzeroemissions #energytransition

The mass adoption of Electric Vehicles (EVs) is key to the UK's drive to Net Zero. But there are still challenges to overcome. According to our recently undertaken research, 60% of participants cite expense of an EV as the main factor preventing them from switching. And just over half mentioned the availability of charging points as a major factor. Lloyds Banking Group, as the parent company of Lex Autolease, has a unique position in enabling this transition and we have identified the following policy asks: 🌿 Prioritise the rapid and fair rollout of charging infrastructure 🌿Remain committed to the essential incentives needed to encourage drivers to make the switch 🌿Consider the future of EV maintenance and consumer information 🌿Rapidly roll out the recently announced national battery strategy At the time of writing, Lloyds Banking Group finances one in ten new electric vehicles through Lex Autolease and Black Horse, and our ambition is to have lent £8 billion worth of EV financing by the end of 2024. It’s a big goal – but one we absolutely must meet. We are also directly supporting EV charging companies in their growth ambitions via our growing Infrastructure & Project Finance franchise. We’re helping to set the agenda because we understand that the decarbonisation of transport is vital to the UK’s ability to halt climate change and ensure our future prosperity. #HelpingBritainProsper #Transport #NetZero #LloydsBankingGroup Victoria Whitehead Santiago Frontini Gerlach Abel Martins Alexandre James Taylor Thomas Busby See attached link for the full article and report: https://lnkd.in/eeKWqy3v

🟩 Thinking of going green? 🟩 Electric vehicles (EVs) offer significant benefits for limited companies, particularly in terms of tax savings. One of the primary advantages is the potential for reduced operational expenses. With lower fuel and maintenance costs compared to traditional combustion engines, EVs can contribute to significant long-term savings for businesses. Alongside this, the benefit-in-kind car tax rate is much lower on EVs, and most companies can claim the entire cost of an EV against taxable profits too. Beyond financial gains, adopting EVs demonstrates a commitment to corporate social responsibility and environmental stewardship, aligning with growing consumer expectations for sustainable business practices. Moreover, with the UK government's commitment to phasing out petrol and diesel vehicles by 2035, investing in electric vehicles now positions companies well as we move toward a more sustainable future. By transitioning to electric vehicles, limited companies not only benefit from reduced operating costs but also contribute to a cleaner, greener future for all. Why not get in touch today to see whether your business could benefit from going green this year? #greenenergy #greenfinance #greenfuture #carfinance #carfinancing #assetfinance #taxefficiency

In a thrilling turn of events, the UK's dedication to sustainable practices within corporate sectors is quite literally on the move! 🚗 A surge to 760,000 company cars, boosted by a remarkable 76% increase in electric vehicle (EV) uptake, speaks volumes about the changing landscape of corporate transportation - with EVs now comprising a notable 29% of all company cars. 🌱⚡ This positive swing, highlighted by UHY Hacker Young, is not only a win for the environment but also for employees who benefit from significant tax incentives. 💼💚 It's a gleaming example of how policy support can shift gears towards a greener economy, with EVs finding the fast lane in company fleets - and don't we all love a good incentive? While employees revel in a meager 3% tax charge on EVs, compared to up to 37% on conventional company cars, it's clear why electric is becoming the corporate wheel of choice. 🌟 But as the sun rises on a new chapter of corporate transport, one must ponder - will the gradual tax increases for EVs put a speed bump in this accelerated growth, or will the commitment to net zero 2050 and sustainable development maintain its forward momentum? 🤔 What are your views on the future of EVs in corporate fleets? How does your business adapt to these changes? Let's discuss below or connect at netzeroevolution.com to steer towards a sustainable future together. 🌍💼 #ElectricVehicles #SustainableTransport #CorporateGrowth

🚀 Government confirms intent to ban ICE vehicles by 2030 🚀 The Department for Transport has recently reaffirmed its intent to ban the sale of new fossil fuel cars by 2030, reversing previous delays. This comes on the heels of the UK Government's broader strategy unveiled earlier this year to accelerate the shift to green energy, including substantial investments in EV infrastructure and incentives for manufacturers. Importantly, this proposal could mandate stricter emissions targets for the years leading up to the ban, ensuring a gradual yet steadfast transition away from traditional vehicles. For stakeholders in the EV market, this could mean a significant boost in investor confidence. The certainty (or near-certainty) of an upcoming deadline pressures the market to innovate and expand, ensuring that the UK remains at the forefront of sustainable transportation solutions. But investor confidence is only valuable if consumer confidence also rises. So the UK CPO's now have a significant amount of work to do to ensure the public charging infrastructure is safe, reliable, accessible and in abundance throughout cities and rural locations. Equally, industries spanning from automotive manufacturing to energy providers must adapt to this impending change, with new opportunities for growth in the sustainable sector. This announcement is a signal that the UK is serious about achieving its net zero 2050 goals. The commercial and industrial sectors should brace themselves for a surge in EV demand and investment. How do you think this will impact your business strategy? Engage with your thoughts below👇 or reach out to me directly if you'd like to learn more about how we can support your growth. #EV #UK #Sustainability

The UK government has recently provided insights into the evolving landscape of electric vehicles (EVs), covering key aspects like costs, charging, and infrastructure. Here are some highlights:   🔹 Affordability: The price gap between EVs and traditional vehicles has narrowed, and the expanding used EV market offers more affordable options for consumers.   🔹 Charging Costs: Charging a medium-sized EV at home costs roughly half as much per mile compared to petrol. Some tariffs can even bring it down to under 3p per mile, making EVs highly cost-efficient.   🔹 Infrastructure Growth: With over 64,000 public chargers (19% at 50kW+), and most EV owners charging overnight at home, charging infrastructure is robust and expanding to meet demand.   🔹 Battery Advancements: Improved technology has led to longer battery ranges and lower costs. Battery prices have dropped by 80% over the last decade, with further decreases on the horizon.   🔹 Sustainability Impact: EVs play a critical role in reducing greenhouse gas emissions, aligning with the UK’s net-zero goals.   The journey towards sustainable, accessible, and cost-effective EVs is well underway in the UK. This guidance is a step towards making informed choices as we transition to cleaner transportation! 🌍💚 #ElectricVehicles #Sustainability #NetZero #CleanEnergy #FutureOfTransport #ActemiumEV

New Government: New Approaches? What can we expect from the new Government in the UK with regard to approaches towards electric vehicles and net-zero issues? The Labour Party's manifesto for the 2024 General Election outlined ambitious policies relating to electric vehicles (EVs) and achieving a net-zero carbon emissions target. Key Proposals One of the key proposals is to invest heavily in the development of a national EV charging infrastructure, ensuring that charging points are easily accessible across the country. This move aims to encourage more widespread adoption of electric vehicles by addressing the issue of range anxiety and lack of charging facilities in some areas. Labour also pledged to introduce incentives and subsidies to make EVs more affordable for consumers, with a particular focus on low-income households. Sustainable Transportation and Net-Zero By aiming to make sustainable transportation options accessible to all members of society, the party emphasised its commitment to social equality alongside environmental goals. The manifesto included plans for stricter emissions regulations for petrol and diesel vehicles, signaling a shift towards prioritising clean energy practices in line with their net-zero emissions target. From looking at the manifesto, we can see references to ‘accelerating towards net zero’ but no actual date for net-zero to be achieved. #ElectricVehicles #SustainableTransport #NetZero2035 #EVCharging #GreenTechnology #CleanEnergy

Support has been confirmed for 46 projects, including #electricvehicles for the #NHS and #RoyalMail, #emotorcycles and wireless #chargepoints. In total, around half of the money will come from the public purse, with the remainder invested by the private motor vehicle sector. The announcement is being taken as a vote of confidence in the #UK industry, and will catalyse work to make supply chains more robust. Financed by the Advanced Propulsion Centre UK’s Collaborative R&D competition, two projects — respectively with Protean Electric and Gordon Murray Group — are worth one-quarter of the total budget. These focus on the development of an ultra-lightweight vehicle platform, and new power products. The £22.5million ring-fenced for these schemes includes a central government grant of £11million. Around 1,000 jobs would be safeguarded, and an expected 13million tonnes of #CO2 saved from entering the atmosphere as a result. ‘From Royal Mail trucks delivering our post, to cleaner, greener bus journeys, this funding will back projects that will lower emissions across the country, while also supporting skilled jobs,’ said Sarah Jones, Minister for Industry and Decarbonisation. ‘Working in partnership with industry this funding will drive innovation and propel the development of next generation #zeroemission vehicle technologies.’ While the news has been broadly welcomed by industry, a Business and Trade Committee warning published earlier this year suggested gaps in #UK policy placed around 160,000 jobs at risk in an already beleaguered automotive sector. And, while in power, the #ConservativeParty were asked to provide more clarity on plans to #decarbonise transport by investors managing assets worth £19trillion globally. So far no significant information has been forthcoming, even with the change of government.    Image: Robin Röcker

Government Backing: Fueling the Growth of EV Markets 🌍 U.S. tax credits and Canada's ambitious zero-emission vehicle targets are pivotal in fostering the expansion of the electric vehicle market. These initiatives not only support environmental goals but also incentivize consumers and manufacturers, propelling the industry forward. Join us in transforming transportation for a cleaner future! #CleanEnergyPolicy #ZeroEmissions #GovernmentSupport #EVMobility

Electric vehicles (EVs) are at the forefront of a transport revolution. 🚗⚡️ But are they truly our future? In the UK, the sale of new petrol and diesel cars will end by 2030. This bold move underscores a commitment to cleaner air and a reduction in carbon emissions. EVs, with their zero tailpipe emissions, are pivotal in this green transition. Yet, the journey isn't without bumps. Range anxiety and charging infrastructure are common concerns. However, progress is palpable. The UK now boasts over 35,000 charging points, and battery technology is leaping forward, promising longer ranges and faster charging times. But what about the energy to power these vehicles? Renewable sources are key. As the UK's renewable energy capacity expands, the environmental case for EVs strengthens. We're steering towards a future where our cars are as green as the grid they're charged from. The economic argument is compelling, too. Running costs for EVs are typically lower, and with fewer moving parts, maintenance is simpler. This could be a game-changer for consumers and businesses alike. So, are EVs the way forward? The evidence is mounting. They offer a cleaner, more sustainable mode of transport that aligns with our environmental goals. As we continue to innovate and overcome challenges, EVs are not just the way forward; they're the way to a brighter, cleaner future. #ElectricVehicles #SustainableTransport #FutureOfMobility