from Statista.com
— this post authored by Martin Armstrong
In his statement on the country’s plan for a “green industrial revolution” in November, UK prime minister Boris Johnson announced that he would be bringing forward the scheduled 2040 ban on the sale of new petrol and diesel cars. The goal is part of a ten-point plan which will be backed up by £12 billion.
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Also included are measures such as the aim to produce enough energy from offshore wind to power every home in the UK., planting 30,000 hectares of trees per year as well as supporting research into zero-emission planes and ships. Critics have cast doubt on the adequacy of the funds put in place for such ambitious plans.
Speaking of ambitious, a smooth transition to the ban on new petrol and diesel cars will require a significant shake up of the auto industry. As the most recent new registrations data shows, 74 percent of cars hitting the roads this year have been either diesel or petrol vehicles. At the same time, only 5.5 percent of sales were of the ideal type – ‘battery electric vehicles’.
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