European car giants issued warning over electric vehicles: ‘We saw what happened to Blockbuster’
Stark warning for car manufacturers in Europe
- Octopus boss Greg Jackson warned European car manufacturers risk becoming obsolete if they do not fully embrace battery electric vehicles (EVs).
- His caution follows lobbying by carmakers in Europe, which led to Brussels watering down plans for the transition to electric vehicles.
- Jackson stressed that European manufacturers must compete with Chinese EVs, which are advanced due to significant investment in research and modern manufacturing.
- He also highlighted that widespread EV adoption could significantly aid in storing renewable energy, as car batteries can be used to power homes and support the grid.
- The UK government plans to outlaw new petrol and diesel car sales from 2030, with only zero-emission models permitted from 2035, while the EU's revised plan targets 90 per cent zero-emission cars by 2035.