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Carmakers, which have invested billions on electric vehicles, slammed Britain's move to delay a 2030 ban on the sale of new petrol and diesel cars, saying it would disrupt supply chains and slow the transition to greener cars.
Article originally published by Reuters. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.
Published by
21 Sep 2023
Following weeks of speculation over the key net zero pledge, Prime Minister Rishi Sunak said on Wednesday he would push back the ban by five years to 2035, with the aim of easing the financial burden on households.
Automakers, which had already made key investment decisions in line with the 2030 target — brought forward three years ago from an earlier 2035 target — called for more policy certainty and less confusion.
Korean carmaker Kia, which has plans to launch nine electric vehicle (EV) models in Britain over the next few years, said it was disappointing to see a change in a policy the industry was working and investing towards.
«Today's announcement alters complex supply chain negotiations and product planning, whilst potentially contributing to consumer and industry confusion,» a Kia spokesperson said.
The car industry
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