Budget - PwC comments on electric vehicles

Adrian Del Maestro, PwC director, said:

"The government's announcement today to provide £500 million to support the deployment of a fast-charging network for electric vehicles (EVs) is to be welcomed. Given one of the challenges hindering the widespread adoption of EVs is still 'range anxiety', a national rapid charging network will alleviate some of this concern. Other barriers, however, remain including consumer choice and affordability of EVs.

"A critical factor that will accelerate EV growth will be the electrification of fleets such as corporate cars, field services and last mile logistics firms. The scale of these fleets means their electrification will turbocharge the EV revolution increasing the number of EVs on the road. In the case of corporate car fleets they will be key to generating a second hand market, improving choice for consumers. Needless to say, electrification on this scale will have other added benefits, such as improved air quality, in particular for cities."   


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