The UK must rapidly accelerate the roll out of gigafactories and new battery technology development, or risk losing domestic car production altogether, according to a new report by HSSMI.

The research found that the gap between the rate of battery plant establishment and the forecast demand for electric vehicles means the UK “desperately” needs to build more of these battery facilities.

The study also suggests that without accelerated production of new gigafactories, there will be a potential shortfall of more than 95 GWh by 2040 and an investment hold of £10 billion.

“Electrification is increasing demand for the battery cells and packs powering electric vehicles,” said Axel Bindel, executive director, HSSMI. “The UK in particular is at a pivotal moment. By 2040, there will be a need for 140 GWh in battery cell capacity, equivalent to five Gigafactories.

Bindel added: “Currently however, there is only 3 GWh of production in the UK and, by 2030, just a further 45 GWh planned, leaving a major gap – over 95 GWh – between the rate of battery plant establishment, planning and the forecasted demand.”

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