- Plans to produce electric vehicles in 2027 were announced five months ago
Sir Jim Ratcliffe’s Ineos has shelved plans to launch its first electric vehicles due to “reluctant consumer uptake” and a lack of clarity on net-zero emissions policy.
The move by the petrochemical group and fledgling carmaker, owned by the British billionaire and Manchester United shareholder, comes less than five months after it announced plans to start producing Ineos Fusilier EV models in 2027.
Ineos said it was “delaying the launch… for two reasons: consumer reluctance to embrace electric vehicles and industry uncertainty around tariffs, timing and taxation”.
Sir Jim Ratcliffe’s Ineos has halted plans to launch its first electric vehicles due to “reluctant consumer uptake” and a lack of clarity on net-zero emissions policy.
The “green” project “is on hold but not categorically abandoned,” said a spokesman.
The company stressed that it was “committed to bringing an electric vehicle to market not just because of legislation but because we want to do it, it’s the right thing to do, but as a new, small-volume manufacturer we can only produce vehicles that sell.”
Recent data has shown a slowdown in electric vehicle purchases in the UK and abroad, blamed on high prices amid the cost of living crisis.
The Ineos Fusilier is a slightly smaller version of the Ineos Grenadier.
