ElectricDrives’ Post

Fantastic EV news from the UK! Official election results showed a landslide victory for the country’s Labour Party. In 2020, the UK said it would ban new gasoline and diesel cars by 2030. Last year, the Conservative party pushed the 2030 goal to 2035, along with watering down some of the government's green energy policies. The Labour Party said: "We believe that the 2030 deadline is the right policy which industry was confident of hitting. Pushing back the date of the phase out will raise costs for British families by billions of pounds because electric vehicles have cheaper lifetime costs than petrol cars, and by 2030 are expected to have lower upfront costs. We will oppose the Government’s plans to water it down." See Labour’s Plan for the Automotive Sector: https://lnkd.in/g_jGH5ie Labour’s Plan said: "As the world pivots to generating electric vehicles, the UK automotive industry should be poised to jump at that opportunity. The global shift towards zero emission vehicles presents a unique opportunity for the UK automotive sector to reinvigorate itself and regain its competitive edge - but time is running out. Labour believes that by embracing the opportunities of the ZEV revolution, the UK can leverage its technological prowess, skilled workforce, and industrial heritage to tap into new markets, create jobs, and drive sustainable growth. Labour’s mission is to ensure electric cars, powered by cheap home-grown energy, don’t become the preserve of the wealthy. We believe everyone should feel the benefit of the transition to electric vehicles and cheaper running costs. A Labour government would drive the automotive industry into the future by accelerating domestic battery making capacity, investing in gigafactories, and removing planning barriers to get shovels in the ground. We will inspire consumer confidence and demand by fixing charging infrastructure and developing clear battery standards consumers can understand. Labour’s plans will improve the competitiveness of the UK automotive sector which now faces the highest industrial energy costs in Europe. Our plans to provide clean energy by 2030 will see the industry benefit from cheap, reliable energy, and improved grid capacity. Battery factories on our shores, reliable charging networks in every part of the country, secure supply chains, increased consumer demand and 80,000 more high skilled jobs. The Faraday Institution estimates that the UK will need 200GWh of supply of manufactured batteries to maintain our domestic electric vehicle production. Through our National Wealth Fund, Labour will part-finance the new, additional gigafactories required to hit that target." What's your opinion? EVinfo.net puts your EV industry business on top. We serve the UK, the US and Canada. See our services below, and let's talk: https://lnkd.in/gH5Gdqb7 #electricvehicles

It's going to be a busy Parliamentary session with over 40 Bills targeted by the new Government. They have the potential to influence key parts of the British economic and social system with implications including for Government at all levels, the investor, asset owner, operator, manufacturer and services sector. A reminder Steer's "Election Reflection" conversations that start next week. We're heading to almost 1,000 individual sign-ons to listen in. Why not join them? Details below. #wearesteer #economy #places #cities #infrastructure #transport #energy

Labour to form new government after winning General Election The Labour Party will form the new government in the UK after 14 years of Conservative rule – with the party expected to implement a number of clean energy and transport policies. The country went to the polls on Thursday 4th July with Labour winning a majority of seats. With a handful of results still to come, Labour had won 410 seats, the Conservatives 119 and the Liberal Democrats 71 – their best ever performance. Keir Starmer will be the new Prime Minister. He said: “Change begins now. We said we would end the chaos, and we will, we said we would turn the page, and we have. Today, we start the next chapter, begin the work of change, the mission of national renewal and start to rebuild our country.” Ahead of the election, a number of policies were included in Labour’s manifesto, including a pledge to reinstate the ban on the sale of new petrol and diesel vehicles to 2030. The party said it would also work to support the transition to electric vehicles by accelerating the rollout of new chargepoints. Labour will also set out the publicly owned Great British Energy to deliver clean power by co-investing in leading technologies, supporting capital-intensive projects; and deploying local energy production. Read the full story along with industry reaction on the Transport + Energy website: https://lnkd.in/eRia3-DN Keep checking back on this developing story for further reaction. The Labour Party, The Vehicle Remarketing Association (VRA), Philip Nothard Asif Ghafoor, Be.EV REA, Trevor Hutchings (FIEMA, DipIoD, CertIoD) NFDA | National Franchised Dealers Association, Sue Robinson Chris Allen , London EV Company (LEVC) Mike Nakrani , VEV David Savage , Geotab BVRLA Kevin Smith , Dootrix Bill Esterson, Quentin Willson, Mark Constable, Matthew Adams, #transport #energy #government

Check out our latest blog on the King's Speech and its likely implications for developers, industry, and the wider sector 👇👇

Although there is needs to be more clarity on how the new Industrial and Infrastructure strategies will work in practice and what the mechanisms for fund distribution are, it looks like some sectors will be prioritised so it's worth taking a look at the detail. There is currently about £3bn of business grant funding available so it will be interesting to see how much of the £15.6bn investment mentioned will come through as grant funding for SMEs over the next 5 years.

The new Labour government has certainly hit the ground running, a useful lesson in governance to the Conservative MPs currently jockeying for a job which they hope will land them in Number 10 one day. Over the last three weeks a host of new policies, initiatives and quangos have been announced. Of the latter, the King’s Speech alone contained nine. This very much smacks of a party that has spent a long time in opposition. But is it really a concrete programme for change, or just a torrent of gimmicks designed to appeal to certain interest groups? The latest announcement, the setting up of GB Energy, is surely the latter. Described by Labour as being ‘at the heart of this government’s mission to make Britain a clean energy superpower’, and with funding of £8.3 billion over the next five years, the project is clearly a flagship for Labour and it will be expected to deliver on many of their election promises from cutting energy bills to reducing fuel poverty. But just hours after the launch of the policy, those promises are already starting to fray. The promise that £300 would be knocked off energy bills was swerved repeatedly on the broadcast rounds. As for the 650,000 new high quality jobs, if these are simply private sector employees in existing industries being lured in by the better pensions, pay and perks of the new GB Energy, this is hardly creating a new job. The more you interrogate how these goals will be achieved, the more questionable they become. ✍Callum McGoldrick https://lnkd.in/gUpcZhk3

I’ve been proud to represent UKSIF at The Labour Party conference over the last few days. The atmosphere on the ground has been much less gloomy than the media has reported, albeit there are the inevitable frustrations that arise from the realities of the party being in government. We’ve been flying the flag for private #investment into the UK’s #sustainability transition at multiple discussions and side events. It’s clear to us that the new government can play a key role, particularly in creating the enabling environment. We particularly welcome the ongoing focus on overhauling the #planning system which was a consistent talking point of ministers. Now is the time for ministers to spell out clearly the transformation they want to deliver, the role of private capital, and the details of how the UK becomes a #netzero powerhouse. I have to admit I’m not yet fully seeing this vision, and a lot is riding on the forthcoming #budget and #industrialstrategy to fill in the gaps.

The Labour Party led by Sir Keir Starmer is predicted to achieve a massive majority of about 170 seats, securing 410 out of 650 in the House of Commons. This would mark a historic defeat for Rishi Sunak’s Conservative party, which is expected to win just 131 seats, the worst result in its history. Key points from the article include: Labour’s projected victory is compared to Tony Blair’s 1997 landslide, indicating a major shift in British politics towards a centre-left, internationalist approach. The Liberal Democrats are set to gain significantly in the Conservative strongholds, with 61 seats, while Nigel Farage’s Reform UK is projected to secure 13 seats. The Scottish National Party is expected to trail behind Labour in Scotland, winning only 10 seats, which weakens their push for independence. Starmer plans to form a cabinet quickly and implement policies aimed at economic growth and investment in green technology. 🔋 Climate Action of the Labour Party Under Sir Keir Starmer's leadership, the Labour Party has made climate action a central pillar of its agenda. Here are the key aspects of their climate policies: - Green Investment: Labour plans to make significant state investments in green technology and infrastructure, including renewable energy projects such as wind, solar, and hydrogen, to reduce the UK's carbon footprint and transition to a sustainable energy system. - Net-Zero Commitment: The party is committed to achieving net-zero carbon emissions by 2050. This goal involves decarbonising various sectors, including transportation, industry, and housing, and promoting energy efficiency. - Green Jobs: Labour aims to create hundreds of thousands of green jobs as part of a "Green New Deal." These jobs will focus on sectors like renewable energy, public transport, and energy-efficient housing retrofits, providing employment opportunities while addressing climate change. - Transport and Mobility: The party plans to invest in public transportation to reduce reliance on private vehicles, aiming to make public transport more accessible, affordable, and environmentally friendly. - Climate Justice: Labour emphasises the importance of a just transition for workers and communities affected by the shift to a green economy. - Biodiversity and Conservation: Protecting natural habitats and biodiversity is another priority. - Legislation and Regulation: The party intends to strengthen environmental regulations and enforce stricter emissions targets. - International Leadership: Labour aims to position the UK as a global leader in climate action. These climate action commitments reflect Labour’s broader vision of a sustainable, resilient, and equitable economy, aimed at addressing the pressing challenges of climate change while fostering economic growth and social justice. #UKPolitics #LabourParty #KeirStarmer #GeneralElection #ClimateAction #GreenInvestment #NetZero https://lnkd.in/epJ9sKgM

The UK goes to the polls on Thursday. Here’s 4 things you need to know about Labour’s approach to sustainability, industry and real estate. 1) Clean Energy Labour intends to use clean energy to drive long term economic growth. Labour is prioritising setting up Great British Energy, promoting energy independence and improving the energy efficiency of homes. Labours aim to "rewire" the grid and bolster green energy outputs. Labour aims to double onshore wind, triple solar power and quadruple offshore wind by 2030. Labour will not issue new licenses to new oil fields in the North Sea or coal mines, and will ban fracking. Labour says that oil and gas will have a role to play in Britain for "decades to come". Labour will make significant investments in carbon capture and storage, and hydrogen and marine energy. 2) Green Finance Labour aims to position the UK as a green finance capital of the world to leverage the private to achieve the UK's climate goals. Labour have pledged not to raise taxes, maintaining NI, basic/higher/additional rates of income tax and VAT. The climate will be reinstated as a policy priority for the Bank of England. Bottlenecks to Green Finance will be removed. The UK Green Taxonomy will be published, and Labour are weighing up the introduction of property-linked financing. Labour will mandate UK-regulated and FTSE100 companies to develop credible transition plans aligned to 1.5 Paris Agreement. 3) Housing Labour plans to build 1.5m new homes over 5 years. Labour will prioritise developing on brownfield sites and greybelts ("ugly wastelands"). Labour will "strategically" release greenbelt sites for development. Labour has stated new homes will be high quality and sustainable, emphasising climate resilience and nature recovery. £6.6bn will be made available for energy efficiency improvements, setting out grants and low interest loans for insulation and solar. Labour intends to work with the private sector to achieve MEES by 2030. 4) Industry and Infrastructure Labour have set out a 10-year strategy for infra and industry, aiming to slash red tape and reform national planning policy to allow projects to move forward, including EV charging infrastructure. Labour will make £1.5bn available for automotive gigafactories, £1bn in carbon capture tech deployment, and £500m for green hydrogen manufacturing. Labour is reintroducing the 2030 phase out of ICE cars, and will introduce standardised guidance for 2nd hand EVs for consumers. How is Labour funding this? They have a costed manifesto, meaning each penny spent is accounting for and funded. Labour are not raising taxes, which are historically high, instead raising £5bn by reforming taxes, closing loopholes and cracking down on tax avoidance. Labour will extend the Energy Profits Levy for another 5 years, and increase the levy by 3 percentage points to raise £1.2bn from oil and gas companies. #Sustainability #Policy #GE2024

Two important elections for the European autos sector...