UK EU EV ‘lose-lose’ warning
10 July 2023
UK EU post-Brexit rules of origin laws risk making EVs 10% more expensive from January 2024. This requires at least 45% parts from the UK or EU, and 60% of batteries. Currently, 47% of UK EV batteries are made in the EU, 32% in China, and 6.2% in the UK.
Both UK and EU car firms are “up in arms” and want the deadline to be kicked back to 2027. However, only the European Commission (EC) can make the ruling, and has to date declared it won’t be budged.
The UK is the top export market for European cars, worth £26.2bn a year. Tariffs would cost almost £3.7bn. “It’s lose-lose with the rules of origin farrago,” said The Sunday Times deputy business chief.
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