Labour has been urged not to weaken its Zero Emission Vehicle mandate, warning that any changes could put billions of pounds of investment at risk.
In a letter sent to 10 Downing Street, electric vehicle charge point operator Believ warned that the current rules give investors the confidence they need to fund the expansion of Britain’s public charging network.
Believ warned that uncertainty over future EV policies could slow down the rollout of charging infrastructure, particularly in rural areas and communities where installation costs are higher.
The company has committed more than £300million to public EV charging projects across the UK, although it warned that the Government needed to provide a stable regulatory environment.
The ZEV mandate requires all new petrol and diesel car sales to be electric by 2030, with at least 33 per cent electric by the end of this year.
Believ said weakening the policy could increase borrowing costs and make investors think twice about backing future projects.
With more than two million electric vehicles now on UK roads, Believ argued that the industry needs certainty to keep pace with growing demand for charging facilities.
Research cited in the letter suggests the EV charging industry could generate £15.5billion in direct economic value by 2035 and create up to 334,000 jobs nationwide.
Believ has called on the Government to stick by the ZEV mandate to protect jobs and investment
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GETTY/PAThe analysis also estimates the wider economic impact could be worth as much as £385billion over the same period.
Believ said these figures demonstrate how private investment in EV infrastructure can help drive economic growth while supporting the Government‘s ambitions for cleaner transport.
The company added that many of its current projects have been developed alongside local authorities, including councils in Suffolk and Hampshire, with investments made on the expectation that demand for electric vehicles will continue to grow.
Guy Bartlett, chief executive of Believ, said: “The ZEV mandate gives industry the long-term confidence needed to invest, build and deliver at scale. Weakening it now would risk slowing infrastructure rollout at the very moment private investment is accelerating.”
Believ urged the Government not to water down the ZEV mandate
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BELIEVHe explained that the UK has a “real opportunity to strengthen its position as a stable, investable market for EV infrastructure”.
Alongside maintaining the mandate, complementary measures such as reducing charging costs can help support demand and make the transition easier for drivers, he added.
Mr Bartlett said the Government should focus on making public charging more affordable while keeping existing EV targets in place.
The company warned that changing the mandate could result in chargers being concentrated in the most profitable locations, while rural and lower-income communities are left behind.
Believ warned the Government needs to remove existing infrastructure barriers to installing EV chargers | BELIEV
Believ said this would undermine efforts to ensure all parts of the country benefit from the transition to electric transport.
The operator said its goal is to bring cleaner air to communities across Britain and argued that no region should miss out on access to charging infrastructure.
According to the company, weakening the mandate could make it harder to attract the private investment needed to build charging facilities at the scale required.