Brexit rules could decimate car market unless UK joins European Union trade group – ‘World-class capability’

News Snapshot:

Britain's automotive sector has issued an urgent plea for Government intervention as new European Union trading regulations threaten to devastate the electric vehicle market. Industry representatives warn that tariffs ranging from 10 to 22 per cent could be imposed on EVs crossing the Channel from January 2027. The sector fears these levies would render electric vehicles uncompetitive against traditional combustion models, which face zero tariffs, the Society of Motor Manufacturers and Traders (SMMT) stated. The regulations stem from stricter origin requirements within the UK-EU Trade and Cooperation Agreement concerning batteries and their components. Manufacturing facilities must achieve challenging localisation thresholds...