Brexit trade deal gave UK and EU carmakers until 1 January 2024 to source batteries from within Europe or face 10% tariffs
The UK car industry has said incoming tariffs between the UK and the EU could raise the price of imported electric cars by as much as £3,400 unless a solution is found by the end of the year.
The Brexit trade deal between the UK and EU gave carmakers until 1 January 2024 to source batteries from within Europe or face 10% tariffs when exporting to each other. However, the supply of European-made batteries has failed to meet demand, meaning carmakers face the new tariffs from next year under these “rules of origin”.
Continue reading...from The Guardian https://ift.tt/pJAb0xX
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