Sir Jim Ratcliffe’s Ineos has put on hold the production of its first electric car, the Ineos Fusilier. The delay has been blamed on weak demand as well as a lack of clarity on government politics.
Ineos said: “We are delaying the launch of the Ineos Fusilier for two reasons: reluctant consumer uptake of EVs and industry uncertainty round tariffs, timings and taxation.
“Charging infrastructure for EVs in most markets continues to grow and consumer confidence will match that, but for the industry to meet net-zero targets there needs to be long-term clarity from policymakers and a number of technology options available considering factors like raw materials, infrastructure and affordability.”
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Ineos unveiled plans to produce the low-emission vehicles in February this year, saying production would start in 2027.
However, the Fusilier, marketed as a plug-in hybrid and electric vehicle (EV), had been delayed indefinitely.
Britain’s second wealthiest man, Manchester United owner Ratcliffe has warned that carbon taxes are “driving away investment” from Europe.
