Desire- Posted November 22, 2023 Posted November 22, 2023 Chancellor Jeremy Hunt has earmarked £2bn for building electric cars in the UK in his latest update on the country’s finances to the House of Commons. With an election due to be held by 28 January 2025 but expected within the next 12 months, this was one of the chancellor’s few opportunities to boost his party’s bid for another term of office by splashing some cash, which he’d built up thanks to better than expected tax income. While there were no new measures for motorists announced, the chancellor announced £2bn of government cash to encourage new investment in zero emission vehicle manufacturing in the country and said that it would “ensure that the UK remains competitive”, and that the money would be welcomed by the likes of Nissan and Jaguar Land Rover. The money is planned to be spread over five years from 2025. Business secretary Kemi Badenoch welcomed the money, saying that it “builds on recent investment wins”, including £4bn the government says that companies have committed to a UK gigafactory producing batteries for electric vehicles, and a £600m investment from BMW to produce the Mini Electric in Oxford for another generation. https://www.topgear.com/car-news/electric/chancellor-announces-ps2bn-boost-ev-manufacturing
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