Diesel And Petrol Cars Will Be Banned In UK From 2030: Financial Times

UK Prime Minister Boris Jonson will announce new green initiatives this week, including a ban on new gasoline and diesel cars from 2030.

What Happened: Johnson said in February that the ban would be introduced in 2045, but he is now expected to change the timeline to 2030 this week, in an attempt to boost the U.K. market for electric cars, the Financial Times reported.

Around £500 million of government funding is planned for charging infrastructure in the country.

Currently, electric cars are only 7% of all vehicles bought across the U.K., although sales are growing, data from the Society of Motor Manufacturers and Traders shows.

Why It Matters: The U.K. government has pledged to reach net-zero emissions by 2050 and is taking bigger steps to achieve it.

The prime minister is also expected to greenlight the building of new nuclear power stations.