Labour Calls for EV Revolution With Interest Free Loans

Keir Starmer

The Labour Party is attempting to put clear blue water (should that be green water) between itself and the EV-grant cutting Government by calling for an ‘electric revolution’ to push the economy and society towards a zero emissions world.

Ed Miliband (remember him?) is the Shadow Business Secretary.  He has announced ambitious proposals to make owning a zero emission vehicle an option for all, based on three key points:

  1. Interest-free loans for new and used EVs for people on low to middle incomes;
  2. Accelerate the roll-out of charging points across the country;
  3. Part-fund three new ‘gigafactories’ for the EV manufacturing sector.

Miliband argues that the UK has to be a leading EV manufacturer to properly benefit from the much-anticipated zero emission economy: “We need a strong domestic battery supply chain to remain competitive and to build on our position as a leading electric vehicle producer and to sell to the world.”

At no point did Miliband say he thought cutting grants for EVs is a good idea. Because it’s not.