UK EV goals clouded by policy tug-of-war between China and Europe
Commenting on the latest SMMT new registrations data, Sheena McGuinness, Co-head of Energy and Natural Resources at RSM UK, said: “While the rise in battery electric vehicle (BEV) market share is promising, a policy pull between China and Europe risks putting the brakes on UK transition efforts."
“As policymakers seek closer alignment to European markets through the ‘Made in Europe’ initiative, all eyes are on whether the UK will impose high tariffs on Chinese EVs. This could significantly limit the availability of cost-effective Chinese models, meaning UK consumers will need to pay more to go electric. At the same time, remaining open to Chinese investment risks denying the UK access to significant incentives and subsidies available to European markets."
“With manufacturers such as Chery demonstrating clear appetite for greater UK investment, the pressure is on for the government to provide clarity on policy direction. However, a careful balancing act is required to ensure that any decision supports, rather than hampers, EV adoption."