UK automotive industry set to unlock £4.6bn boost by 2030
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The UK automotive sector is expected to deliver a £4.6 billion boost to domestic manufacturing by 2030, driven by the growing demand for British-built components in electric vehicles. The industry's transition to electric vehicles is creating new investment opportunities, with demand for UK-sourced parts expected to rise by 80% by 2030.
The UK automotive sector is set to receive a significant boost. The industry's transition to electric vehicles is driving growth, with demand for UK-sourced parts expected to rise by 80% by 2030. This increase is expected to deliver a £4.6 billion uplift to domestic manufacturing by the end of the decade. Next-generation electric vehicle technologies are at the heart of this growth. Production of next-generation volume battery electric cars has begun in Sunderland. Seven new EV models are set to launch across the UK this year. The industry's growth is also driven by the demand for automotive electronics and traditional automotive manufacturing.
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