Electric vehicles: policies and investment needed to continue growth

The electric revolution continues to gather pace, with more than a third of the new vehicles registered in 2022 electrified in some form, new figures show.

Data published by the Society of Motor Manufacturers and Traders (SMMT) shows 267,203 new BEVs were registered last year, a 40% rise on the total of 190,727 in 2021.

Along with 101,414 plug-in hybrids (PHEVs), this means 22.9% of all new cars registered in 2022 can be plugged in.

In addition, 187,984 hybrid electric vehicles (HEVs) were registered – meaning 34.5% of the total market is now electrified in some form.

By way of comparison, a total of 1,614,063 new cars were registered in 2022 – down 2% on 2021 and still well below pre-Covid levels.

The SMMT says the growth in the zero emission vehicles could help the market “buck wider economic trends” in 2023 and deliver “significant growth”.

However, it warns that ensuring drivers in every part of the country can benefit from zero emission vehicles depends on Government policies. 

For instance, while it recognises the need for fair vehicle taxation, the SMMT says plans to introduce VED on BEVs from 2025 with the same ‘premium’ threshold as internal combustion-engine cars ‘will disproportionately penalise those moving to electric’.

It also points to the importance of delivering a widespread charging network.

Mike Hawes, SMMT chief executive, said: “The automotive market remains adrift of its pre-pandemic performance but could well buck wider economic trends by delivering significant growth in 2023. 

“To secure that growth – which is increasingly zero emission growth – Government must help all drivers go electric and compel others to invest more rapidly in nationwide charging infrastructure. 

“Manufacturers’ innovation and commitment have helped EVs become the second most popular car type. However, for a nation aiming for electric mobility leadership, that must be matched with policies and investment that remove consumer uncertainty over switching, not least over where drivers can charge their vehicles.”

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