EC Proposes To Postpone Introduction Of Duties On UK Electric Cars For Three Years

The European Commission has suggested delaying the implementation of a ten percent tariff on trade in electric vehicles and their batteries between the European Union and the United Kingdom for three years, until December 31, 2026.

Every EU member state has to ratify the plan. EU leaders will discuss the issue in Brussels next week, The Financial Times.

In the past, the UK government and members of the car sector pleaded with the European Commission to postpone the levy, but the Commission refused. In the end, the concerns were appeared to be bigger than anticipated benefits. The European Commission estimated that the imposition of taxes would cost European manufacturers an extra €4.3 billion over the course of three years and result in a loss of market share to competitors from the United States and China.

The British Society of Motor Manufacturers and Traders (SMMT) and the European Automobile Manufacturers’ Association (ACEA) praised the EC’s proposal and asked other EU members to support it.

source: ft.com

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