UK car industry body calls for urgent response to US, EU plans

The UK auto industry body said Britain risks falling behind in the race to build EV's unless the government responds urgently to U.S. and EU initiatives to support industry.

March 13, 2023 . 4:37 AM

1 min read

The Society of Motor Manufacturers and Traders (SMMT) said Britain risks falling behind in the race to build electric vehicles (EVs).
The U.S. announced $369 billion in subsidies to support clean technologies and EVs under the Inflation Reduction Act (IRA).
The EU has proposed the Green Deal Industrial Plan on concern the U.S. law could put companies based in Europe at a disadvantage.
The SMMT has recommended providing more generous incentives and subsidies for battery-related projects, cutting energy costs, and expanding the country's free trade agreements.