The US’s Inflation Reduction Act (IRA) sets out policies to encourage the production and purchase of electric vehicles (EVs) in the US. If implemented in the UK, our analysis estimates equivalent policies would cost £64 billion between now and 2030.

This briefing looks at the four most relevant EV policies in IRA and estimates the cost of equivalent costs in the UK:

• Clean vehicle credit
• Previously-owned clean vehicles
• Qualified commercial clean vehicle
• Advanced manufacturing production credit