New research by sub-national transport body Midlands Connect has found a quicker uptake of electric vehicles (EVs) in the region could be worth nearly £9 billion in economic benefits.
Recent investigations show the benefits of reducing carbon emissions and cleaner air will result in £8.7 billion of benefits to the Midlands’ economy.
The ‘massive’ benefits will start to be released by 2035, a few years after the proposed phasing out of petrol and diesel engine vehicles.
A decline in transport emissions are estimated to fall from over 14 million tonnes of harmful chemicals like CO2 per annum in 2023 to under seven million tonnes per annum by 2050. This could be worth between £405 million or up to £1.5 billion.
The findings follow the publication of Midlands Connect’s ‘Supercharging the Midlands’ report, which found that EV use in the Midlands was projected to increase by over 3,000 per cent by the end of the decade.
Midlands Connects’ report set out three ‘scenarios’ for EV uptake in the region, with low medium and high uptake. The upper end of these scenarios have now been used by the Department for Transport in their national framework for the rollout of EV infrastructure, the 2035 Delivery Plan for Transitioning to Net Zero report.
Bharat Pathania, Technical Innovation Lead at Midlands Connect, pictured above, said: “By reducing the number of petrol vehicles on our roads and swapping to healthier options like EVs, we can enjoy cleaner air across the Midlands. All in all this means less carbon dioxide and cleaner air which means a better economy.
“This isn’t just a health thing – it’s a massive economic thing too – it’s worth up to £1.5 billion for the NHS and nearly £9 billion for the Midlands’ economy.
“Midlands Connect has led the way on EV work and this analysis shows quicker uptake of EVs is win-win for everyone.”
