A major insurer broker has questioned the realities behind the ‘electric dream’.
Commenting on the Prime Minister’s speech at the Zero Emission Vehicle Summit, Dan Hutson, Head of Motor Insurance at Compare the Market, said, “The two key issues holding back electric cars from becoming the norm are the cost and the infrastructure.
“Electric cars, while often cheaper to run than petrol or diesel vehicles, can be expensive to buy. Coupled with a lack of network and charging stations, it’s clear to see the concerns some may have when looking to purchase an electric vehicle. The Prime Minister’s announcement that the Government will invest £106 million into advancing the industry could go a long way to improving affordability.”
He concluded, “However, we are still some way away from reaching a point of critical mass where the manufacturing, repair, insurance and distribution costs of electric vehicles fall, meaning that, for a lot of people, the ambition to join the green revolution is still just a dream.”