What happened
The National Grid unit in a report released Monday said the UK’s goal of achieving zero net emissions by the middle of the century is becoming more accessible and that electric vehicles are a key aspect of the movement, Bloomberg previously reported.
“There is widespread acceptance in domestic electric vehicles, and also growth and investment in hydrogen and carbon capture technologies,” said Mark Herring, chief strategy officer for the ESO unit.
National Grid estimates that by 2050, up to 80% of households with an electric vehicle would be wise to charge their cars in durations when electricity prices are cheaper and energy demand is lower, Bloomberg noted.
Because it is important
The rumors came to light last month that Tesla was considering adding a factory in the UK, Electrek reported. Musk had previously said that the UK’s exit from the European Union, dubbed “Brexit”, made it too risky to put a Gigafactory in the country.
Price action
National Grid shares closed 0.26% lower at $ 57.38 in New York on Friday.
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