Critical Minerals and Energy Intelligence

EV Subsidies: For How Much Longer?

The UK is ending its remaining subsidies for EVs, citing strong market growth and plans to shift funding toward expanding the country’s charging infrastructure and promoting other electric vehicles like vans, taxis, and motorcycles. Officials said the scheme had done its job, helping to establish a healthy market for battery-powered cars.

It’s a move that all governments currently subsidizing EVs must dearly want to make. The question is what sort of impact it will have on EV adoption. The UK government pointed out that previous cuts to the incentive didn’t slow demand for EVs and that sales are holding steady. For me, that begs the question of exactly what period of sales is considered long enough to be judged as steady?

The UK is now the only major European country with consumer incentives for EVs, so it’s going to be very interesting to see if consumers are willing to pick up the extra tab or if manufacturers are willing to offer improved pricing to keep pulling in the crowds. It’s also going to be interesting to see how long it will be until other European and indeed other nations with incentives follow suit. Could this be the first domino?

Anthony Milewsi

Chairman, Nickel 28 Capital

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