UK Auto Industry Warns Lack of Incentives Slows EV Uptake

The UK’s auto manufacturing industry will likely miss its 2024 target of electric vehicle sales as drivers lack the “fiscal incentive” to switch to EVs, the main industry body and several manufacturers wrote in a letter to the Chancellor of the Exchequer, Rachel Reeves. The Society of Motor Manufacturers and Traders (SMMT) called on the Labour government to introduce new incentives for EV buyers as the car manufacturing industry by itself cannot sustain the costs amid flailing demand for EVs. “Unfortunately, the private...