UK calls last orders on combustion engine, but needs to spend $20bn on four EV battery gigafactories by 2027 – Benchmark Comment

By Simon Moores, Managing Director, Benchmark Mineral Intelligence

The UK has placed electric vehicles (EV) and lithium ion batteries at the heart of a new “Ten Point Plan for a Green Industrial Revolution” and with it announced intentions to ban new sales of the internal combustion engine by 2030.

This aggressive move on climate change is setting the tone for COP26 in Glasgow next year, but the lack of progress on a mass-scale, commercial battery industrialisation plan risks the collapse of a major pillar in Prime Minister Boris Johnson's UK decarbonisation plan.

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