MARKET NEWS
Electric car drivers must pay tax from 2025 Link
The latest sign of slowing sales growth in world’s EV market, Mercedes-Benz follows Tesla and cuts EV prices in China Link
Accelerating to Zero: UK and other wealthy nations pledge to support Global South’s EV transition Link
Lithium galore! Italian town finds huge deposit of vital electric car metal Link
Ex-Tesla Australia director Kurt Schlosser pleads guilty to insider trading Link
General Motors predicts profits from EV business in 2025 as largest US carmaker signs nickel deal with miner Vale in race to secure battery materials Link
Enel is going to build one of the largest solar panel and cell factories in the US Link
RELEVANT ARTICLE
The Times - Loss of tax exemption for electric vehicles ‘will drive customers away’ Link
Jeremy Hunt announced that EVs that are now exempt from vehicle excise duty will have to pay the tax, £165 a year at present, from April 2025. The imposition of road tax on previously exempt EVs will drive motorists away from buying zero-emission cars before a ban on the sale of petrol and diesel vehicles by 2030. Some industry experts agreed that the chancellor’s plan was fairer but warned that the financial incentives to going green were disappearing. The prospect of additional running costs will drive more would-be buyers away from EVs when other incentives, such as subsidies, are being scrapped and high energy bills are eroding the advantages of going electric.
STATISTIC OF THE WEEK
Cumulative number of battery-electric vans registered in the UK (2020 to date) Link
