An increase in the number of electric vehicles on the road could see the UK's oil imports cut by up to 40 per cent, and bring numerous other economic and environmental benefits, a new study has revealed.
A shift to electric cars could save drivers £1,000 a year on fuel and cut carbon emissions by 47 per cent in the next 15 years, according to the study commissioned by the European Climate Foundation.
"The cost of motoring is still the number one concern for motorists so the fact that low carbon vehicles are driving down costs is great news both for drivers and for Britain's economy," said Edmund King, president of the AA.
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A number of barriers stand in the way of a shift to electric cars, including consumer apprehension and a lack of recharging stations. Given the financial and environmental benefits of low carbon vehicles, pressure is mounting on the government to increase investment in the industry.
"There will be a transition in the next five to 10 years, but you won't see a sudden shift to electric vehicles until consumers have got over their 'range anxiety' concerns and that will only happen with infrastructure spending," Philip Summerton, one of the authors of the report, told The Guardian.
The conservative government was criticised for blocking an EU plan to boost the number of recharging stations, because of the high cost. However, government subsidies for new electric cars have begun to help the industry develop, say experts
"It can no longer come as a surprise to anyone that reducing emissions delivers commercial benefits to industry as well as benefits to the environment and consumers," said Darren Lindsey, head of government and public affairs at tyre company Michelin. "To maximise those benefits, however, international policymakers have to create a consistent and robust regulatory framework."
