Sharecast - The UK car industry has said incoming tariffs between the UK and the EU could raise the price of imported electric cars by as much as £3,400 unless a solution is found by the end of the year. The Brexit trade deal between the UK and EU gave carmakers until 1 January 2024 to source batteries from within Europe or face 10% tariffs when exporting to each other. However, the supply of European-made batteries has failed to meet demand, meaning carmakers face the new tariffs from next year under these “rules of origin”. – Guardian
Tesla has cut the price of its entry-level Model 3 car in Britain in the latest effort to boost demand for its electric vehicles amid growing competition and sluggish sales. The car maker began selling a new version of the Model 3 on Tuesday for £39,990, £3,000 cheaper than the previous cheapest version. – Telegraph
The Telegraph’s administrators have set up a company to hold the newspaper’s assets as Lloyds Banking Group (LON:LLOY) continues with efforts to seize Barclay family holdings before a sale of the broadsheet title. The directors running the Telegraph on behalf of the bank have been appointed to a new entity before an auction that is expected to generate up to £600 million. – The Times
The proportion of first-time, female and minority ethnic candidates who were appointed non-executive directors of the UK’s largest listed companies fell sharply last year, according to a survey carried out by the recruitment firm Spencer Stuart. Diversity on the top 150 UK boards dropped as companies opted to hire those with prior experience in times of uncertainty instead. – The Times
