British carmakers seek clarity on 'Made in EU' rule as trade risks grow
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British carmakers are seeking clarity on whether the UK will be considered 'Made in EU' under the European Commission's Industrial Accelerator Act, which could impact trade and investments. The UK's automotive industry is concerned about the ambiguity, as it faces competition from cheap Chinese electric vehicles.
The UK's automotive industry is calling for clarity on the 'Made in EU' rule under the European Commission's Industrial Accelerator Act (IAA). The IAA sets requirements for public procurement and subsidies for low-carbon and 'Made in EU' products, including aluminium, cement, steel, and green tech. The UK's SMMT industry group says the ambiguity risks delaying investments, with the annual value of EU-Britain automotive trade worth around 80 billion euros. The SMMT is seeking a political statement on Britain's status ahead of an EU-UK summit in June or July. An IAA annex specific to automakers could exclude British automakers if vehicles are not assembled in the EU. The UK is the EU's biggest buyer of auto components, and the two sides remain each other's largest passenger car markets.
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