Stellantis warns of UK factory closures due to Brexit deal
Stellantis, the parent company of Vauxhall, Peugeot, Citroen and Fiat, has warned that it may have to close its UK factories unless changes are made to the Brexit deal. The company is struggling to meet the current rules of origin that require 40% of an electric vehicle's parts by value to originate in the UK or EU in order for it to qualify for trade without tariffs. The threshold is due to rise to 45% next year and in 2027 it will increase to 55% and the battery pack will have to come from the UK or EU.