Tuesday, October 3, 2023

The European Union is showing resistance to the UK’s demand to postpone tariffs on electric vehicles

The European Union (EU) is refusing to agree to the United Kingdom’s request for a postponement of tariffs on the sale of electric vehicles (EVs), but car manufacturers are still hoping for a postponement, according to the British Motor Industry Association. Under the post-Brexit trade deal, sales of electric vehicles between the UK and EU will be subject to 10% tariffs from January unless 45% of the vehicle’s value comes from the UK or EU, according to the rules the “Rules of”. Origin”. These tariffs will have a significant impact on automakers on both sides, as many electric vehicle batteries are imported from China. The possible increase in electric vehicle prices could hamper efforts to reduce carbon emissions.

Major car companies have warned that the imposition of tariffs will make their British car factories uncompetitive. Stellantis, the world’s third-largest car maker by sales and parent company of popular brands such as Vauxhall, Peugeot, Citroen and Fiat, has said British car factories may have to close if a deal is not reached.

Mike Hawes, chief executive of the Society of Motor Manufacturers and Traders (SMMT), has revealed that there are some concerns in Brussels about accepting the UK’s request to delay tariffs until 2027. However, the French government’s position on this issue remains uncertain. Recent media reports suggest that Germany is in favor of tariff exemption.

Despite the EU’s reluctance, the automotive industry remains optimistic that a favorable agreement can be reached. According to Hawes, it would not make sense to impose additional tariffs on vehicles that are incentivized to purchase. Both sides are likely to continue negotiating to find a mutually beneficial solution.

Nation World News Desk
Nation World News Deskhttps://nationworldnews.com/
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news