RE: UK car production - October30 Nov 2023 07:54
The rules, set under the EU–UK Brexit deal, place minimum restrictions on all battery parts and some battery raw materials to ensure they’re locally sourced within the EU or UK. These requirements hike up from 2024.
Failure to comply will result in a 10% tariff which if fully passed on would raise the average cost of UK-built battery electric vehicles (BEVs) by £3,600 in Europe, while EU-made BEVs sold in the UK would see an average £3,400 price hike, as revealed in the SMMT’s report last week.