British EV battery startups need funding help or risk missing out-study

FILE PHOTO: The logo of an electric car is painted on the road at Santiago, Chile, April 20, 2011. REUTERS/Ivan Alvarado

LONDON (Reuters) - Britain risks missing out on capturing a larger share of the electric vehicle (EV) battery supply chain unless the government does more to help startups gain access to private financing, according to a study released on Tuesday.

Only the private sector can provide enough finance to fuel the transition to zero-emission transport - with battery cells, chemicals and other parts of the supply chain potentially worth up to £24 billion annually by 2025, according to "Powering the Drive to Net Zero," released by the Coalition for the Decarbonisation of Road Transport (CDRT).