Ministers to provide ‘strong blueprint’ on how to roll out electric vehicle charging infrastructure Britain ‘craves’, according to Nat Rothschild
Ministers must provide a ‘strong blueprint’ on how to roll out the electric vehicle charging infrastructure that Britain ‘craves’, according to Nat Rothschild.
The billionaire financier and chairman of Volex, which makes power cords and charging plugs for electric cars, joins the call for the UK to capitalize on the rising demand for plug-in cars.
While the government aims to ban the sale of new petrol and diesel cars from 2030, there are fears that the UK’s EV revolution is stalling due to a lack of evenly distributed public charging points.
Concern: There are fears that the UK’s EV revolution will be bogged down by a lack of evenly distributed public charging points
Rothschild said: ‘Volex sees real momentum here – our order books are strong and there has never been more demand for our products, so much so that we now have four sites involved in the production of EV products around the world .
“The opportunity is clear – what we need is a strong blueprint from the government on how to roll out the EV infrastructure the UK craves.
“It’s a great opportunity to roll into future industries and, in turn, secure more long-term skilled jobs and reduce our dependence on fossil fuels.”
But he also warned that the government is under increasing pressure to meet its “ambitious” net-zero targets as consumers become “increasingly aware of the environmental importance of their daily commute.”
Volex will provide the market with an update on its fiscal year on Thursday. It expects revenue of £554m – up 15.5 per cent, with profit of £51m up 17.4 per cent.