LONDON: New research shows that the expansion of electric vehicles (EVs) in the UK could have a drastic effect on the economy by cutting fuel imports by 40pc saving drivers stg£13bn in fuel bills.
According to their figures, the average UK driver could save as much as stg£1,000 per year on fuel costs and could potentially cut the country’s carbon emissions by almost half (47pc) by 2030.
While looking specifically at the UK, the research undertaken by Cambridge Econometrics (CE) and commissioned by the European Climate Foundation would show that if an EV infrastructure and numbers of vehicles were to increase substantially, the demand for fossil fuels could plummet.
If this were to continue on until 2050, this figure could rise to as high as 80pc causing an in-direct knock-on effect where the UK’s annual costs on health due to carbon emissions could be cut by as much as stg£1.3bn per year.
