Octopus Energy urges UK to use Biden’s ‘confident, ambitious blueprint’ for huge boost

According to the Rystad Energy consultancy, the impact on the battery and electric vehicle sector is the biggest points of contention between the US and Europe.

This is because the Inflation Reduction Act allocated $23billion (£19billion) to transport initiatives, with tax incentives of up to $7,500 (£6,232) per vehicle on offer for cars whose batteries were either made or assembled in North America.

Speaking to Express.co.uk, Fiona Howarth, the CEO of Octopus Electric Vehicles said that in order to boos the UK’s electric vehicle industry, the Government would need to build a “confident and ambitious ZEV mandate that provides certainty to the market”, adding “I think that’s due soon.”

She said: “But in addition to that, on the industrial side, I think stimulating the UK manufacturing will have a long term impact.

Article source: https://www.express.co.uk/news/science/1737114/octopus-energy-fiona-howarth-electric-vehicles-us-blueprint-biden-inflation-reduction-act