Yahoo Finance Electric vehicles lead ‘massive change’ in UK factories
Electric vehicles made up almost two fifths of all new cars produced in the UK in May, according to new figures, as 26,475 models rolled off factory lines.
The latest figures from the Society of Motor Manufacturers and Traders (SMMT) mark a three per cent year-on-year increase and come as the UK automotive industry continues to ramp up its transition to greener fleets.
Total car manufacturing output declined nearly 12 per cent to 69,652 vehicles in May despite production rising 9.7 per cent as export volumes fell 17.4 per cent.
Nearly three quarters of all cars built in Britain were exported to global markets, with more than half going to the European Union, followed by the US and Turkey.
“Massive change is underway in the UK’s car factories as manufacturers retool for new electric models,” SMMT chief executive Mike Hawes said.
Amid a looming general election, the SMMT has asked the next government to reintroduce incentives for electric models to boost flagging private demand.
The trade body believes the right industrial policy for battery electric vehicles (BEVs) could create an industry worth some £290bn over the next decade.
“Amid strong international competition for green automotive investment, however, the UK needs to ensure it has the most attractive conditions for manufacturing businesses and a compelling offer for existing and new investors,” Hawes added.
“Essential to this is a long-term industrial strategy, which encompasses all industry, all stakeholders and all of government in the pursuit of sustainable and green growth.”
