"The Society of Motor Manufacturers and Traders is calling for UK-built vehicles, components and batteries to be granted equivalent status to EU-made products under the proposed 'Made in Europe' framework, arguing that the current draft risks undermining a deeply integrated cross-border industry."
"The automotive relationship between the UK and the EU is estimated to be worth around €80 billion annually, with trade flows heavily interconnected. The EU remains the UK's largest export market for passenger vehicles, while the UK is also a major destination for European car exports."
"Excluding UK firms from incentives linked to fleet electrification and emissions reductions could place British manufacturers at a competitive disadvantage at a critical stage in the industry's transition to electric vehicles."
The UK automotive industry is urging the EU to amend the Industrial Accelerator Act to include UK-built vehicles, components, and batteries. Exclusion could harm supply chains and investment, particularly in the transition to electric vehicles. The Society of Motor Manufacturers and Traders emphasizes the strategic interdependence of UK and EU automotive manufacturing, with an estimated annual value of €80 billion. Excluding UK firms from incentives related to fleet electrification could disadvantage British manufacturers and weaken supply chain resilience.
Read at London Business News | Londonlovesbusiness.com
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