With the world moving towards electrification, several countries have revealed their plans to electrify their roads over the next two decades. The UK was originally poised to ban the sale of new internal combustion engine (“ICE”) vehicles by 2040, but the government pushed the ban to 2030. The ambitious goal, which is part of the UK’s plan to become a net-zero economy by 2050, puts the UK ahead of countries such as France which plans to ban ICE vehicles in 2040 and in line with the Netherlands, Germany, and Ireland.
To help achieve this goal, the government has pledged to provide £1.3bn ($1.7 billion) to speed up the installation of charging points across the country, £582m ($777 million) in incentives and grants to reduce the initial cost of zero- or ultra-low-emission vehicles, and around £500m ($668 million) to develop and mass produce electric vehicle (“EV”) batteries…
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