https://www.motorfinanceonline.com/features/chinas-ev-dominance-from-domestic-powerhouse-to-global-leader/?cf-view
“On the other hand, the UK is doing very little to tackle the problem, which in addition to the threat of a post-Brexit EV trade tariff being imposed by the EU, paints a gloomy picture for the UK’s auto market competitiveness.
Jim Saker highlights how production targets and government regulations are pointless, given the country does not have solid supply chains in place: “When [former Prime Minister] Boris Johnson launched the UK 2030 ICE ban, which was completely kind of random, there was no reason for 2030, he didn't guarantee the supply chain, he handed over the UK motor industry to China. This is because China controls 95% of the world's supply of batteries, and the raw materials that make up their supply. They've got the Belt and Road Initiative that runs into Africa with something like 80% of the world's cobalt from the Democratic Republic of Congo. So, therefore, what you've got is a kind of a situation where you basically place the UK in a very difficult position.”
Even though the ICE ban has been effectively pushed back to 2035 for car buyers, government targets for car manufacturers remain unchanged. Starting in 2024, 22% of newly sold cars must be zero-emission vehicles.”
It is one thing dumping ICE vehicles for BEV without market demand pushing changes. It is quite another to effectively hand control of the market to Chinese companies.