UK Weighs Electric Car Fund Boost to Lure Green Investment
- Hunt may plow hundreds of millions of pounds into fund
- Britain is trying to protect domestic EV industry investment
Electric vehicles plugged in at a charging point in London, UK.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
The UK is considering plowing hundreds of millions of pounds more into its electric-car subsidy fund, people familiar with the matter said, as part of the government’s response to US President Joe Biden’s package of green subsidies.
Chancellor of the Exchequer Jeremy Hunt is weighing the top-up to Britain’s Automotive Transformation Fund as part of the fiscal package he’s due to unveil in next month’s Autumn Statement, according to the people, who requested anonymity discussing plans that aren’t yet concrete.