KPMG respond to UK and EU agreement on electric vehicle trade

Responding to the Government announcement that the UK and EU have agreed to extend trade rules on electric vehicles until the end of 2026:

Richard Peberdy, UK Head of Automotive for KPMG, said:

“The delaying of Rules of Origin changes is a sensible decision for automotive industries on both sides of the Channel. 

Tariffs having been applied when exporting UK or EU made electric vehicles would have threatened market competitiveness at a time when price is key to convincing more consumers to switch to EVs.

"The delay also provides an extended window for battery production and related supply chain to become more established in the UK and Europe.  

The UK automotive sector has seen welcome related announcements recently, with hopefully more to follow in 2024.”

ENDS.

Media contact:

Steven Reilly-Hii, Media Relations Manager, KPMG LLP

E: steven.reilly-hii@kpmg.co.uk ,

T: 07510 376635.

About KPMG UK:

KPMG LLP, a UK limited liability partnership, operates from 20 offices across the UK with approximately 17,000 partners and staff. The UK firm recorded a revenue of £2.72 billion in the year ended 30 September 2022.  

KPMG is a global organization of independent professional services firms providing Audit, Legal, Tax and Advisory services. It operates in 143 countries and territories with more than 265,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.