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EU's 'Made in Europe' policy threatens UK auto sector amid risk to £68billion relationship

gbnews.com · 3h · first reportShare

Significant losses could be seen within months as the European Union continues to exclude the UK from its policies, potentially impacting an €80billion (£68.6billion) automotive relationship. The Society of Motor Manufacturers and Traders (SMMT) has highlighted the integrated relationship between the UK and the European Union amid fears it could be impacted soon. In the near future, the EU will intensify talks relating to the Industrial Accelerator Act, as it works to shore up sectors across Europe given the emerging threat from China. The IAA states that the UK is currently excluded from certain "Made in Europe" regulations, meaning vehicles manufactured in the UK risk losing out on certain incentives. TRENDING Stories Videos Your Say These incentives are only available to EU-made products and include backing for cleaner fleets and CO2 super credits. The UK is still excluded from the EU's Member State procurement, despite a storied history between the two partners. Through supply chai