“We are relieved that a tariff deal has, finally, been agreed between the EU and the US.
15% is a significant uplift in cost for our fledgling business against the pre-’Liberation Day’ baseline. However, it is at least a done deal and gives us a runway for continued growth in the US, our biggest market.
A protracted negotiation had the potential to inflict untold damage to our business and to the automotive industry as a whole, so it’s positive that we now have clarity. Hoping for a period of stability so that we can just get on with the business of delivering Grenadiers to our customers.”
-Ends-
Contact details:
Sarah Pelling
Head of PR
+44 (0) 7887 451 773
sarah.pelling@ineos.com
Matt Moore, PFPR Communications
+44 (0) 7715 075992
matt.moore@pfpr.com
ABOUT INEOS AUTOMOTIVE
In 2017, INEOS Chairman Jim Ratcliffe, a car enthusiast and experienced adventurer, identified a gap in the market for an uncompromising 4X4 engineered for modern day compliance and reliability. INEOS Automotive Limited was formed and a senior team of automotive professionals assembled to bring the vision to reality with a fresh perspective of 4X4 development and manufacturing.
In 2022 the INEOS Grenadier was launched: a truly global 4X4 built from the ground up that combines rugged British spirit and design with German engineering rigour. The Grenadier provides best-in-class off-road capability, durability, and reliability with the modern comfort and refinement customers expect wherever they are in the world. In 2023 a double-cab pick-up variant of the Grenadier was launched called the Quartermaster.
INEOS Automotive is a subsidiary of INEOS (www.ineos.com), a leading manufacturer of petrochemicals, speciality chemicals and oil products. It employs 26,000 people across 36 businesses, with a production network spanning 194 sites in 29 countries. From paints to plastics, textiles to technology, medicines to mobile phones, materials manufactured by INEOS enhance almost every aspect of modern life. In 2021, INEOS had sales of $65bn. To find out more about INEOS Automotive, visit www.ineosgrenadier.com
