Electric cars will present challenges and opportunities
THE Government’s announcement in relation to only electric powered vehicles being sold after 2040 is going to cause many Midland companies currently supporting automobile manufacturers to have a bit of a rethink. Many will find that, after more than 100 years, demand for the internal combustion engine will cease.
However, this legislation will create opportunities elsewhere.
For instance, housebuilders will presumably from now on be making provision for charging points to be part of the list of extras on offer to purchasers.
These have to be developed, official design approval obtained, manufactured and marketed.
Currently there are government grants available for electric vehicle home charging schemes, with up to 75 per cent on offer towards installation.
The move to electrical powered vehicles by decree is going to present a lot of problems to the motorist in the years ahead, for there will come a time when the car purchased will only have scrap value circa 2040. The more expensive the vehicle, the greater the loss.
I presume that manufacturers of larger petrol/diesel powered vehicles will suffer from 2030 onwards as investors opt for smaller cheaper cars, or switch early to electric-powered vehicles.
Then there is the question as to how Government will cope with the loss of tax revenue currently accruing on pump sales.
One suggestion is that all vehicles will be charged for every mile driven, which would create a lot of problems in information collection, let alone the payment of such tax.
One solution is to have a special rate for electricity used to power vehicles, but that could take a lot of policing.
I do have a major concern on safety, namely that e-vehicles are extremely quiet, so you cannot hear them coming, which on twisty country roads, can be frightening. I have already had one such experience, and this aspect has to be addressed.
A page in the history of motoring is about to be turned, with both benefits and opportunities.
Russell Luckock is chairman of Birmingham pressings firm