Despite the current constraints in the availability of and ability to charge electric vehicles in the UK, last month the Government announced its plan to ban the sale of new petrol and diesel cars by 2040. 

Whilst some continue to be sceptical of electric propulsion, Tesla fans recently took to social media to demonstrate the Model S driving more than 1,000km on a single charge. As “range anxiety” continues to lessen among UK consumers, the internal combustion engine’s days appear numbered. 

To aid the uptake of electric vehicles across the UK, OEMs are continuing to roll out fast charging stations, with Tesla alone expecting to have 10,000 in action by the end of 2017. A 30-minute charge on their Supercharger will provide the user with a further 170 miles in range and should enable even the most rural of journeys.

To support the large-scale switch to electric vehicles, the UK will need to undergo an intensive infrastructure roll-out over the next 20 years. This will pose several opportunities for mid-market businesses, with increased demand for installation and servicing of these vehicles, plus the potential for retrofitting equipment in the aftermarket industry.

What about the price of these electric vehicles? Analysts expect the total cost of owning an electric car will soon equal that of a petrol vehicle. Increased demand from OEMs for mass production of lithium-ion cells has driven the price of cells down from c. $1,000 a kilowatt-hour in 2010, to around c.$150 today, making electric vehicles price competitive with their petrol counterparts.

Still not convinced? Well, the new Tesla S can also go from 0-60 in 2.3 seconds, making it the quickest road car ever.