The UK government is expected to lower its electric vehicle (EV) sales targets this week. This change may relieve pressure on carmakers but raise concerns among environmental groups. Current rules state that 80% of new cars sold in the UK must be electric by 2030. However, government sources suggest this target may be reduced by about a quarter, according to the Guardian.
Government Review and Reactions
This decision follows a review started in August by Prime Minister Andy Burnham. He faces pressure to balance economic needs with environmental goals. A government spokesperson said, "We are committed to the phase out of all new cars relying solely on petrol and diesel engines by 2030, and to 100% of new car and van sales being zero emission by 2035." Environmental advocates warn that weakening the 2030 target could harm the UK's long-term climate goals. Louise Haigh, the acting deputy prime minister, is expected to finalize the plan after a meeting in Downing Street.
Political Implications
The expected cuts come amid wider discussions about the UK’s energy strategy, including the approval of the Jackdaw gas field. Labour MPs have voiced concerns about the potential effects on the government's green agenda. Lizzi Collinge, a Labour MP, stressed that the upcoming decision on the zero emission vehicle mandate will have major climate effects. She said, "It will also set the direction for tackling the cost of living and helping get our energy prices down over the coming decade."
Related coverage: EU Energy Ministers to Discuss Demand Cuts Amid Crisis, EU Leaders Push for UK Electricity Market Deal Before Summit.
Lowering EV targets could create a better environment for traditional car manufacturers, affecting the automotive sector. Investors may closely watch how this decision impacts the broader energy transition and climate-related investments.
Watch for the outcome of the Downing Street meeting on Wednesday, which is expected to finalize the EV target changes.
Based on reporting by: bbc.co.uk, theguardian.com