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Britain’s nascent EV sector looks for a boost from Sunak and Biden talks
by cityam
GUY TAYLOR
THE UK’s electric vehicle sector is hoping for some good news from the two-day meeting between Prime Minister Rishi Sunak and US president Joe Biden, who are set to announce closer economic ties between the two nations this week.
Biden is expected to offer new trading arrangements to help the UK’s struggling EV division compete with US manufacturers, in the form of a critical minerals agreement, according to reports.
The meeting comes after the UK’s nascent EV industry raised concerns about Biden’s Inflation Reduction Act, which is currently offering hundreds of billions of dollars in subsidies for
EVs produced in America.
The visit comes at a pivotal moment for Britain’s electric industry, with an announcement confirming that a new multi-billion pound Jaguar Land Rover gigafactory –which has been touted as essential for the UK to stay competitive in the EV race –will be located in Somerset rather than Spain, also expected this week.
