EV manufacturers could face £660 million in fines for missing ZEV mandate

The latest data from New Automotive’s Electric Car Count (ECC) and Electric Van Count (EVC) shows that the 32 car manufacturers eligible for the planned Zero Emissions Vehicle (ZEV) mandate would collectively be 44,000 credits short of meeting their regulatory requirements if the 2024 target were in force in the last 12 months.
EV manufacturers could face £660 million in fines for missing ZEV mandate
Ford Focus Electric.

This means they would have to either borrow or buy out of their regulatory obligations, raising around £660 million in buy-out revenues.

The data also shows that EV car sales rose by 40 percent year-on-year in June, driven by running cost advantages and competitive leasing deals – even in a time of rising interest rates. Electric van sales dropped by 11 percent but steady growth is expected throughout the year thanks to the ZEV mandate.

Electric motorbike sales fell by 21 percent having struggled to make headway in sales since the scaling back of the plug-in motorbike grant in 2021. June saw the second highest number of electric HGVs registered in the UK on record – but to continue at this pace the industry urgently needs a specific policy framework.

Tesla tops the table for manufacturers with the most EVs registered year-on-year, bagging 17 percent of electric car registrations in the first six months of the year. It was followed by MG in second and Volkswagen in third place.

“Electric cars are so popular that manufacturers cannot produce enough of them to meet demand” said Ben Nelmes, Chief Executive at New AutoMotive, commenting on the Electric Car Count. “Consumers tell us they love the running cost savings, the smoother drive and guilt-free motoring. The challenge facing the UK remains how to give consumers what they want: more electric cars. Ministers' plans for a California-style Zero Emissions Vehicle mandate are essential to boosting the supply of electric cars as well as boosting charge point installations - but they must come into force in January 2024 so consumers can benefit. Petrol registrations are falling significantly, while diesel registrations are now a niche part of the market, as consumers are abandoning polluting vehicles faster than the government is planning to phase them out.”

Ciara Cook, Policy Officer at New AutoMotive, commenting on the Electric Van Count, added that despite a disappointing month in sales of electric vans it is important that the government continues to accelerate its support for the segment, rather than put the brakes on.

“It is encouraging to see such a wide selection of electric van models on the market, with 49 models there’s plenty of choice for businesses” said Ms Cook. “Businesses must be allowed to access the savings which owning an electric van will unlock. The Government needs to continue to offer the plug in grant to businesses so that they can access the savings from owning an electric van as quickly as possible. These figures show we need an ambitious ZEV mandate to push the industry forward and help more businesses access e-vans, to reduce their motoring costs in this financially uncertain period.”

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