Commenting on UK car production falling to lowest total since 1984, Andrew Aldridge, Partner at Deepbridge Capital, said: “The production and use of electric vehicles (EVs) has and will continue to soar as traditional companies adapt to a global push towards decarbonising the automobile industry. The sector continues to be at the forefront of fascinating and fast-moving technological innovation as the motor industry and the tech giants meet to help make EVs the norm. This includes all aspects across the industry, including but not exclusive to, battery innovation, manufacturing change, material supply chains, development of EV tyres and ancillaries, charging infrastructure and commerce developments. There are however justified concerns around the rapid adoption of electric vehicles in the UK due to the limits on the speed of rolling out the charging infrastructure. There are currently a number of small companies developing and implementing charging infrastructure strategies but there is also a reasonable degree of uncertainty about the future patterns of consumer behaviour which creates a level of risk in these business models.
“One of Deepbridge’s investee companies, Flex-G, is aiming to revolutionise the charging of EVs and create greater battery efficiency through the development of nano-particle technology. Such technology is needed in order to drastically reduce EV charging times and increase battery range, in order that consumers may realistically switch from combustion to electric power. We expect a significant amount of small companies to emerge in the EV space, particularly in the charging infrastructure sector as the world adapts to the widespread use of EVs.”
