Has The Electric Car Grant Inspired More Battery Production?

Batteries for electric vehicles are a major potential growth area for suppliers of raw materials needed to produce batteries, and one potential catalyst for the market is an ambitious grant that helps buyers save thousands on a new car.

The Electric Car Grant, offered to manufacturers who sell new electric cars under £37,000, manufacture them sustainably and generate zero emissions, has been touted as a bold step forward for encouraging drivers to shift to more sustainable ways of getting around.

Whilst there had been some scepticism regarding the scale of effect of the scheme, particularly when no cars qualified for the higher £3,750 discount, the reception has appeared to be highly positive according to a survey published by The Independent.

The survey, commissioned by French car brand Renault, noted that 35 per cent of drivers in the UK are more likely to buy an electric car as a result of the discount afforded by the grant. This figure extends to 54 per cent for people living in London.

Even more optimistically, 55 per cent of people in the same poll noted that they believed that they would buy an electric car within two years, which would more than double the still impressive current 21.9 per cent of registrations of new EVs.

As might be expected, there was a degree of disparity between generations of car buyers, with younger adults being overwhelmingly more likely (85 per cent) to go electric within two years compared to just 27 per cent of drivers over the age of 55.

The biggest concerns involve price, accessibility of charging points and range, all of which are in the process of being improved through greater availability, public policy and advanced battery research, creating a wave of optimism that has cut through years, if not decades, of scepticism.

This suggests that the cynical reception to the likes of the Sinclair C5 may finally be put to rest, as the future increasingly appears to be powered by clean electricity.