Responding to the Government announcement that the UK and EU have agreed to extend trade rules on electric vehicles until the end of 2026:
Richard Peberdy, UK Head of Automotive for KPMG, said:
“The delaying of Rules of Origin changes is a sensible decision for automotive industries on both sides of the Channel.
Tariffs having been applied when exporting UK or EU made electric vehicles would have threatened market competitiveness at a time when price is key to convincing more consumers to switch to EVs.
"The delay also provides an extended window for battery production and related supply chain to become more established in the UK and Europe.
The UK automotive sector has seen welcome related announcements recently, with hopefully more to follow in 2024.”