A new study conducted by Cambridge Econometrics on behalf of the European Climate Foundation has found that a surge in electric vehicle (EV) adoption may deliver approximately £1,000 ($1,500) in annual fuel cost savings to the average motorist.

According to the report, ‘Fuelling Britain’s Future’ commissioned by the European Climate Foundation, this is expected to trigger a decline of 47% in carbon emissions by 2030 in addition to a reduction in the UK’s dependence on oil imports.

Cambridge Econometrics has undertaken the research project in a bid to evaluate the economic impact of decarbonising cars and vans in the country.

"The report considers the economic impact of a series of forward-looking scenarios that include alternative visions of future vehicle fleet in Europe."

The report considers the economic impact of a series of forward-looking scenarios that include alternative visions of future vehicle fleet in Europe.

The average motorist spent £1,190 on fuel in 2014.

Fuelling the average new low-carbon car could be £600 cheaper annually by 2030, compared with the average car at present.

Initial investments in these technically-advanced vehicles may be costly to buy but it could be negated by energy-savings benefits within a few years.

The total cost of renewing and fuelling the UK car fleet would be £7bn lower for low-carbon vehicles by 2030.

Meanwhile, CO² emissions from the car and van fleet are expected to be cut by 47% by 2030, and as much as 80% in 2050.

Nissan global chief marketability engineer Jerry Hardcastle OBE said: "The report clearly demonstrates how battery-electric vehicles will continue to positively contribute to the UK economy.

Beyond the jobs that we have created in Sunderland around the production of the Nissan LEAF electric car there will further developments in the products and services that support zero emissions mobility."