Ford Says UK Petrol-Car Ban Delay Could Risk EV Transition: Report

Ford Motor Co F reportedly said the process of the electric car transition could suffer a setback if the U.K. government keeps delaying the petrol and diesel car sales ban.

The development comes as the U.K. Prime Minister considers rolling back some green-energy policies, including a possible five-year delay to the planned ban on petrol and diesel car sales by 2030, reported Bloomberg.

The report noted the sentiment behind the rollback is to reduce the cost-of-living crisis the people are reeling under in the country.

"Our business needs three things from the UK government: ambition, commitment and consistency," the report quoted Ford's U.K.'s Managing Director Lisa Brankin. "A relaxation of 2030 would undermine all three."

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Ford had said in 2021 that it would only sell fully electric passenger vehicles in Europe by the end of the decade to slash costs.

"We need the policy focus trained on bolstering the EV market in the short-term and supporting consumers while headwinds are strong," said Brankin.

Price Action: F shares are trading higher by 0.48% at $12.62 in premarket on the last check Wednesday.