The industry’s shift to electric continues to pick up pace

Richard Peberdy, UK Head of Automotive at KPMG, said:

“The industry’s shift to electric continues to pick up pace as manufacturers pull investments away from petrol and diesel production.

“Traditional carmakers revealed big production rises in electric models in half-yearly reporting, with many looking to stay ahead by acquiring electric vehicle tech start-ups, or partnering with others who have the much-needed capabilities. 

“Momentum will continue to build as models keep topping bestseller lists and as billions are invested in new factories and charging infrastructure, which in turn will provide a welcome confidence boost for the supply chain. But shortages of crucial parts and available labour risk stymying progress by suppressing output and extending waiting times for customers.”

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About KPMG UK

KPMG LLP, a UK limited liability partnership, operates from 21 offices across the UK with approximately 16,000 partners and staff.  The UK firm recorded revenue of £2.3 billion in the year ended 30 September 2020.

KPMG is a global organization of independent professional services firms providing Audit, Legal, Tax, and Advisory services. It operates in 147 countries and territories and has more than 219,000 people working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.