The challenge to equip a new-generation of British-built electric cars with high-tech batteries also made in the UK has received a £4.8 billion boost from the chemical industry.

A report into the capability of the UK chemical industry to supply essential components – anodes, cathodes and electrolytes – for the cells that will power the next-gen EVs has found a strong network of companies capable of supplying these basic building blocks, already established in the UK.

“The UK boasts some of the largest suppliers of materials to produce cathodes, anodes and electrolytes and is well-placed to capitalise on this,” said the report from the Advanced Propulsion Centre (APC).

At least three-fifths of the value of a BEV battery pack is in the chemicals and materials, says the report, and a “strong foundation of UK-based companies are already embedded within many global battery supply chains”.