EU agrees to suspend tariffs on British electric cars for three years

Tariffs that were due to kick in from next year would have charged a 10% duty on vehicles and batteries traded between the EU and Britain if less than 45% of their value comes from the region

Electrified vehicles — either fully electric models, plug-in hybrids or full hybrids — accounted for over 47.6% of all new passenger car registrations in the EU as of November, up from 43% in the same period last year.

European Union member states have approved a three-year postponement of tariffs on electric vehicles traded with Britain, giving carmakers more time to make necessary changes to comply with local content requirements under a bilateral trade deal.

The tariffs that were set to kick in from next year would have charged a 10% duty on vehicles and batteries traded between the EU and Britain if less than 45% of their value comes from the region — a policy meant to strengthen the European battery supply chain.