EU set to suspend Brexit tariffs on EVs for three years in major boost for car industry

News Snapshot:

The European Commission looks set to propose a three-year delay to a 10% tariff on sales of electric vehicles between the EU and the UK, in a major boost for car industries across Europe. Duties were due to kick in on 1 January 2024 but all the major carmakers in the UK and Europe including BMW, Volkswagen and Stellantis have been lobbying for a temporary reprieve. Stellantis, which is responsible for 14 brands including Vauxhall and Jeep, warned it might have to close operations in Britain with the loss of thousands of jobs if the tariff came into force in...