38 Centre for Economics and Business Research This implies that the cost of EVs, once subsidies are removed, are unlikely to fall sufficiently to become equal to that of ICEs in the foreseeable future. Range Anxiety EVs cause range anxiety due to the limited amount of charge a battery stores, which limits how far it an EV car can travel before it requires recharging. It may take only 30 minutes to charge a battery up to 80%, but in many cases, it may take a lot longer than 30 minutes. In contrast, with an ICE car, refuelling can be done comparatively much more quickly. This can cause anxiety as persons may worry about the large time cost that may be incurred if they have to take a significant amount of time out of their day (or night) to charge a battery. This can be particularly challenging for those who require vehicles for their job and perhaps do not have home chargers. A common view is that it will be essential to develop a ‘Smart Grid’ to allow electricity to be drawn from electric vehicles when charging to be able to balance the energy on the grid. This may both be essential for ensuring the management of electricity on the gird but, in turn, may be a source of anxiety for those who fear that this may reduce the charge of their cars at times when emergency use is required. Job losses Manufacture and maintenance of ICE and BEV vehicles require some of the same skillsets but many different skills also. This means that whilst jobs will be created, there will also be associated job losses as the vehicle production industry transitions in synchronisation with increased EV vehicle purchases. It is hard to predict the net impact and views differ amongst experts and industry insiders. For instance, according to the CEO of Aston Martin, the internal combustion ban is ‘either disastrous or pointless’. Andy Palmer has hit out at the proposals that fail to take into account potential British job losses, for example at internal combustion engine plants like Ford’s in Bridgend. Speaking to Autocar, he said: “It’s not thinking about the consequential effects to the 800,000 people in our industry. It’s not taking into account the impact to things like petrol station garages and the [Ford employees] who have been making engines in Bridgend.”52 According to the SMMT, more than 22,000 jobs in the UK’s car industry are at risk as firms pivot away from making engines and traditional car parts and towards batteries and other components for EVs: “While some companies are already on the journey, many risk being left behind as the jobs and skills involved with internal combustion engine technology may not be transferable.” 52 https://www.carthrottle.com/post/aston-martin-is-furious-about-the-uks-disastrous-or-pointless-internal-combustion-ban/
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