The Munro team is deeply concerned about the UK Government’s decision to roll back commitments to meet net-zero emissions targets and freeze the sales of internal combustion engine (ICE) cars by 2030. We believe that this decision squanders an opportunity for the UK to take a leadership position in transitioning to a cleaner, greener transport economy.
Deadline and Investments
Munro believes that the automotive industry had sufficient notice of the 2030 deadline and made investments accordingly. The recent investments by TATA, JLR, and BMW in EV manufacturing facilities and gigafactories are examples of this commitment. Investments such as these are predicated on stability and certainty.
Deadline and Reassurances
Munro is relieved that the timeline hasn’t slipped beyond 2035 and seek reassurances that this date won’t be further postponed. An annual review of progress toward the net-zero transition should be conducted to ensure the UK stays on track.
Impact on Start-ups
The delay in implementing the ICE vehicle ban could potentially make it difficult for start-ups like Munro to raise the capital needed for innovation. Maintaining a clear commitment to the 2030 deadline is crucial for fostering a robust EV ecosystem in the UK.
Rhetoric and Misinformation
Munro is deeply concerned that the government’s statements may fuel Fear, Uncertainty, and Doubt (FUD) around electric vehicles. There is a misconception that EVs are more expensive than ICE vehicles, despite numerous studies showing comparable Total Cost of Ownership (TCO). Delaying the ICE ban could mean affordable second-hand EVs remain out of reach for longer, costing the public more in the long run.
Global Leadership and Innovation
Munro is disappointment that the UK, with its potential for sustainable innovation, isn’t taking a leading role in the global push for greener transportation solutions.