![EU set to delay tighter rules on electric vehicle trade with Britain](https://i-invdn-com.investing.com/trkd-images/LYNXMPEJB50FO_L.jpg)
© Reuters. FILE PHOTO: European flags fly outdoors the European Commission headquarters in Brussels, Belgium September 20, 2023. REUTERS/Yves Herman/File Photo
BRUSSELS (Reuters) – The European Commission proposed on Wednesday delaying by three years a tightening of native content material guidelines that may have led to import tariffs on many electrical automobiles (EVs) traded between the European Union and Britain from the beginning of 2024.
The Commission additionally mentioned it was setting apart an extra 3 billion euros ($3.24 billion) to spice up the EU’s battery manufacturing business, a transfer designed to spice up native content material and cut back reliance on batteries and supplies from China.
($1 = 0.9267 euros)