FOREWORD
The expense of electrification
Electrification is very much in humanity ’ s hands , but there seems to be an element of the universe throwing barriers in the way .
Of course renewable energy adoption is growing at a necessary rate - it can ' t evolve fast enough - but the EV sector could take a beating in 2024 . The UK Government pushes back the inevitable - much to the industry ’ s surprise - the European Union is currently set on imposing its 10 % tariffs , and will potentially disown new Chinese cars despite the country ’ s leading market position .
Is there a silver lining though ? Will this act enforce the need to localise EV components or perhaps even birth more disclosures among car manufacturers and their supply chains ? All we know is that EV imports and exports to and from Europe are about to get more expensive , and China may be hit the hardest .
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