Eddie Mair 4pm - 7pm
Would you buy an electric vehicle from 'Honest Ed the car dealer'?
25 March 2021, 14:25
This is the moment Ed Miliband's interview with Nick Ferrari took a turn nobody could have predicted...
Labour is calling for an electric vehicle "revolution" to give a boost to the car industry and create jobs across the UK.
In a speech later today Shadow business secretary Ed Miliband will outline ambitious plans to create new jobs and make owning a zero-emission vehicle an "option for all."
Nick Ferrari spoke to Mr Miliband ahead of the speech questioning him about the plans but did it in a slightly different way.
He started by asking "Honest Ed, the car dealer," why should he "go electric?"
Joining in the fun, Mr Miliband told Nick he had done the right thing by coming to "Honest Ed's."
"I'm glad you've to come to Honest Ed's.
"Honest Ed's is offering you a zero-interest loan and then as you make savings from an electric car, you can pay it back.
"Do we have a deal, Mr Ferrari?"
Pointing out the benefits Mr Miliband said not only was it good for the environment, but people would not be able to buy a vehicle with a petrol engine from 2030.
He also revealed his plans would see zero-interest loans offered to help deal with the upfront costs of buying an electric vehicle.
In a speech in London on Thursday, he will call for part-financing the creation of three new gigafactories by 2025, providing greater security for the sector and shoring up Britain's global leadership in the electric vehicle market.
Interest-free loans should be offered for new and used electric vehicles to those on low to middle incomes to remove the upfront cost barrier, he will say.
Mr Miliband will also call for a quicker rollout of charging points on streets, targeting areas such as Yorkshire, the North West and the West Midlands.
Constructing gigafactories is crucial for the future of the automotive sector, especially in light of the trade deal with the EU, according to Labour.