Ineos puts brakes on launch of electric vehicle

Sir Jim Ratcliffe’s Ineos business has indefinitely delayed production of its first electric vehicle.

The company made the announcement just months after unveiling the model, with production initially expected to begin in 2027.

The Ineos Fusilier SUV was planned to be available in pure electric and plug-in hybrid versions.

We can only produce vehicles that will sell

In a statement, Ineos Automotive said: “We are delaying the launch of the Ineos Fusilier for two reasons: reluctant consumer uptake of EVs and industry uncertainty around 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.

“We are committed to bringing an EV to market not just because of legislation but because we want to. It is the right thing to do.

“But as a new small-volume manufacturer we can only produce vehicles that will sell.

“The Fusilier is an electric vehicle, but also provides the option of a range extender that uses a small low-emission petrol engine to charge the electric battery when external charging isn’t available.

“This low-emission solution for longer journeys or where charging is not possible would still be banned in both Europe and the UK in 2035, if not earlier in the UK should Labour be elected into government this week.”

Labour has pledged to reinstate the 2030 ban on new petrol and diesel cars if it wins the General Election.

The move would reverse the decision of Prime Minister Rishi Sunak in September last year to delay the ban from 2030 to 2035.