One of the challenges facing the British economy is how to grow the UK’s manufacturing sector.
Disruptive areas of manufacturing such as the electrification of cars hold a large opportunity to enhance the sector, however UK businesses are currently in need of investment.
Kevin Brundish, CEO of electric vehicle battery manufacturer AGM Batteries believes this General Election offers an opportunity for politicians to drive much needed investment in the industry to stimulate the economy and create jobs.
“The electrification of vehicles is a crucial factor in achieving the UK’s carbon neutral 2050 targets. In order to meet the unprecedented demand for electric vehicle battery production, the UK will need the equivalent of a staggering eight 15GWh Gigafactories by 2040. ”
“As the demand for batteries continues to rise, leading British manufacturers like ourselves are hoping the winning party will follow through on promises to dedicate investment towards green automotive technologies. The UK’s economy can be boosted with manufacturers who are able to keep up with the huge expansion of this market and create jobs.”
“Battery supply for the UK manufacturing industry is already struggling to meet demand, and in response, the UK Government should continue to prioritise the creation of onshore full cycle battery plants instead of relying on large scale manufacturers abroad. It is costly and increases carbon footprint to have these batteries imported, especially when the UK has the talent and capabilities at home.”
“Creating a robust UK supply chain for the production of lithium-ion batteries would strengthen the UK’s car industry, making the country an attractive destination for international car-makers.” concluded Brundish