Newshot
Account

EU reportedly plans to delay 10% tariff on UK-made electric vehicles

Source: IT之家 Published: Business & Funding 中文
AI summary

IT之家 reported on November 15 that, according to the Financial Times, people familiar with the matter said the EU plans to postpone a 10% tariff on electric vehicles from the UK, and is consulting the industry on a proposal to delay the measure, originally due to take effect on January 1 next year, for most EVs. Under the post-Brexit agreement, EVs must have at least 55% of their value originating in the EU or UK to enjoy zero-tariff treatment, with local value thresholds of 65% for cells and battery modules and 70% for battery packs; those failing to meet the standards face a 10% import tariff, although the EU proposed in late 2023 to delay the tightened rules of origin by three years. After the three-year grace period, the post-Brexit rules are due to take effect from January 2027, when an estimated 70% of battery-electric and plug-in hybrid vehicles traded between the UK and EU would face the 10% tariff; the UK's main auto lobby group, the Society of Motor Manufacturers and Traders, warned in June that without a solution on local content requirements, EV manufacturers would have to bear up to £1.4 billion in tariffs, and the UK and EU are each other's largest EV export markets, w

Translation(model translation, not the source's own text)

Article title: EU Reportedly Plans to Delay 10% Tariff on British-made Electric Vehicles

Body:

  • Day/Night, Follow System, Light, Dark

EU Reportedly Plans to Delay 10% Tariff on British-made Electric Vehicles

IT Home, November 15 news, according to a Financial Times report, people familiar with the matter revealed that the EU plans to delay the imposition of a 10% tariff on electric vehicles from the UK.

The EU is soliciting industry feedback on the relevant proposal to postpone the measure, originally scheduled to take effect on January 1 next year, that would impose an additional 10% tariff on most electric vehicles.

Under the agreement reached between the UK and the EU after Brexit, for electric vehicles to enjoy zero-tariff treatment, at least 55% of their value must originate from the EU or the UK, with the local value share required to reach 65% for cells and battery modules and 70% for battery packs.

Electric vehicles that fail to meet the above standards will face a 10% import tariff. However, at the end of 2023, the EU already proposed delaying the implementation of these tightened rules of origin by three years.

After the three-year grace period expires, the post-Brexit rules will formally take effect from January 2027, at which point an estimated 70% of battery electric vehicles and plug-in hybrid vehicles traded between the UK and the EU will be subject to a 10% tariff.

The UK's main automotive industry lobbying group — the Society of Motor Manufacturers and Traders — warned in June this year that if no solution could be reached on local content requirements, electric vehicle manufacturers would have to bear tariffs of up to 1.4 billion pounds (IT Home note: approximately 12.381 billion yuan at current exchange rates).

It is understood that the UK and the EU are each other's largest export markets for electric vehicles, and both London and Brussels have set targets to phase out internal combustion engine models in the 2030s.

Related Articles

  • EU Seeks to Further Strengthen Tech Regulation, Proposes Digital Fairness Act with Fines up to 6% of Global Annual Turnover
  • EU Launches European Chip Design Platform to Support Small and Medium Semiconductor Players with 525 Million Euros
  • European Commission Opens Digital Services Act Investigation into Booking.com
  • PHP to Release Patch for Two 9.2-Severity Vulnerabilities, EU Urges Organizations Unable to Patch in Time to Take Affected Websites Offline
  • JD.com Plans $2.5 Billion Acquisition of German Retail Giant Ceconomy, EU Approval Enters Final Stage
  • EU Pressures UK to Impose 45% Tariff on Chinese-made Electric Vehicles

Sites under Soft Media: IT Home, ZuiHuiMai - Rebate and Cashback Coupons, iPhone Home, Win7 Home, Win10 Home, Win11 Home

Software under Soft Media: Soft Media Mobile APP Application, Rubik's Cube, ZuiHuiMai, YaoZhi

The translation is machine-generated and individual terms may be off. Nothing is rewritten or cut; the original is authoritative.

Published by IT之家
This site only summarises and aggregates; copyright stays with the original author. Headlines and summaries follow the source — where they differ, the original wins.
Read the original ↗