EU Electric Car Regulations Pose Billions in Costs for Carmakers
🇪🇺 EU Electric Car Regulations Pose Billions in Costs for Carmakers.
New Brexit trade rules related to electric vehicles could impose a significant financial burden on European auto manufacturers, potentially costing them £3.75 billion ($4.58 billion) over the next three years, as reported by BBC News. These rules, part of the U.K.-EU Trade and Cooperation Agreement, aim to ensure that electric cars produced within the EU primarily use locally sourced components. However, both U.K. and European manufacturers have expressed their lack of readiness to comply with these regulations. The European Automobile Manufacturers Association (ACEA) has raised concerns that these measures may lead to a reduction in EU factory output by up to 480,000 vehicles, with the resulting costs likely being passed on to consumers. The key issue at hand is the "rules of origin," intended to safeguard the European industry against inexpensive imports.
A top cybersecurity firm, ESET, has uncovered Chinese hacking attempts in the European cargo shipping industry, marking the latest instance of China-aligned groups infiltrating Western economic infrastructure.