Ford calls for extension of post-Brexit trade rules to 2027
Ford on Wednesday called for post-Brexit EU trade requirements on rules of origin for electric vehicles (EVs) to delayed until 2027 from 2024, saying tariffs will add pointless costs for consumers and slow the transition to electric. "Ford is calling for current trade requirements to be extended to 2027, to allow time for the battery supply chain to develop in Europe and to meet EV demand," the U.S. carmaker, which is investing 380 million pounds ($480 million) to build e-motor capacity at an engine plant in the British city of Liverpool, said in a statement.
"Tariffs will hit both UK- and EU-based manufacturers, so it is vital that the UK and EU come to the table to agree a solution." ($1 = 0.7923 pounds) (Reporting By Nick Carey)
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