Europe’s electric vehicle industry has already committed more than €200 billion (£171 billion) to factories, batteries and charging infrastructure, even as politicians debate weakening the EU’s 2035 petrol and diesel car ban.

A new report from New Automotive said the scale of investment shows Europe’s shift to electric transport is already deeply embedded across the economy, with tens of thousands of jobs tied to the transition.

The analysis found €60 billion (£51 billion) has been committed to new or retooled vehicle plants, while €109 billion (£93 billion) is flowing into battery and raw materials projects.

A further €46 billion (£39 billion) is linked to public charging infrastructure.

The report warned political uncertainty now risks undermining one of Europe’s biggest industrial transformations in decades.

Chris Heron, Secretary General of E-Mobility Europe, said: “Europe’s EV industries are investing at scale.

“Political backtracking and constant uncertainty are becoming a direct threat to investment.”

He warned that any short-term flexibility around EU carbon rules “cannot come at the expense of long-term investment certainty”.

The report said more than 150,000 jobs are already supported by the investment wave with another 300,000 expected if all planned projects go ahead.

Ironically many of the countries pushing back hardest against the EU’s 2035 zero-emission vehicle target stand to gain the most economically.

More than half of all tracked EV investment is concentrated in Germany Italy and Central and Eastern Europe.

The report also warned Europe risks falling further behind China if policy signals weaken and investors lose confidence in the long-term direction of the market.