UK vehicle sales, production and export have risen in 2023, but the prospects of tariffs on EV trade with the EU because of origin rules could harm supply chain investment.
Higher tariffs are due to come into force in less than six months’ time as part of the UK-EU Brexit trade deal and could see charges being applied to UK-made electric vehicles being exported if they do not meet the requirement that at least 40% of their components’ value is from the UK or the EU.
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