Business secretary Jonathan Reynolds says there is ‘no route to net zero’ that ignores concerns of businesses after wave of closures

• Jonathan Reynolds: If we delay the UK’s drive for electric vehicles, our rivals will overtake us

There is “no route to net zero” that ignores the real concerns of businesses, a cabinet minister has warned, as the government prepares to reduce financial penalties handed to carmakers not selling enough electric cars.

Ministers are also looking at how cheaper loans could be introduced to help people buy an electric vehicle (EV), after a wave of job losses and closures in which carmakers blamed the onerous fines they were facing.