EV sector needs new businesses to help government hit net-zero target

The UK needs budding entrepreneurs to step forward if the government is to reach its net-zero targets by 2050, according to Startups.co.uk.

Tom Elvidge, executive vice president of vehicle platforms at Arrival, told Startups.co.uk that despite EV businesses being one of the top picks for the 2022 best business ideas, entrepreneurs need to be “bold” to drive change in sustainable products.

He said: “It’s clearly an exciting time to get involved in a sector that is looking to overcome a huge range of global issues with some truly unique innovations.

“Mobility problems tend to vary city by city, but the greatest ideas are ones that can then be scaled or adapted globally. I would also encourage entrepreneurs to be bold in their ideas in order to come up with truly sustainable products that can affect real change.”

Electric vehicle car sales rose by 186% in 2020, and such a rise now means the UK has the second largest electric car market in Europe according to Matthias Schmidt, an independent automotive analyst.

However, according to Startups.co.uk, if potential business owners wish to open up in an industry which is not only booming, but has longevity as the world tries to move towards a more sustainable way of living, then the electric vehicle sector could help turbo-charge the economy and provide profits for business owners.

Michael Colijn, CEO of Heliox, told Startups.co.uk: “Currently the demand for EVs is huge, making the prospect of starting a business that caters to this highly attractive. Startups that wish to be more involved in this space must understand where the market is currently underserved, in particular, where the vital charging infrastructure is required to ensure drivers have ease of access.”

Startups.co.uk is helping budding entrepreneurs to start businesses and side hustles that meet a market demand. Richard Parris, managing editor, said: “UK consumers have a growing appetite for making sustainable choices – plus, new government grants and schemes are encouraging the takeup of green technologies. All of this means that new businesses have a compelling market in which to launch.”