Midlands Connect has published new research into use of electric vehicles (EVs) in the region, which shows that resulting benefits for carbon emissions and air quality will add £8.7bn to the Midlands’ economy.
These benefits are set to be unlocked by 2035 after several years of the phasing out of petrol and diesel cars.
It projects a decline from 14 million tonnes-per-annum in the output of harmful chemicals like CO2 in 2023 to less than seven million tonnes by 2050. The sub-national body suggests this could be worth between £405m or up to £1.5bn.
Bharat Pathania, technical innovation lead at Midlands Connect, 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 £1.5bn 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.”
This economic forecast follows the publication of its 2021 report Supercharging the Midlands, which offered an overview of the local charging network and advocated for more chargepoints to be installed throughout the region.
The publication also found that EV use in the Midlands was projected to grow by more than 3000% by 2030.