Ed Miliband’s electric-car targets are a fantasy

Labour’s plan to ban the sale of all petrol and diesel vehicles by 2030 is doomed to fail.

In September it was reported that they account for 17.8 per cent of all car sales so far this year .

The problem for manufacturers and consumers alike is that EVs need to get a lot better and a lot cheaper.

Rio Tinto Zinc anticipates that prices for batteries and their ingredients, currently at rock bottom, will start to rise again in the case of lithium and cobalt, perhaps even before 2030 .

But the conclusion may be correct, but the reasoning behind it is not.

Just looking at supply and demand for battery materials misses deeper economic and political considerations.