LONDON - The European Union Council said on Thursday it had approved a plan to give electric vehicle (EV) makers in the EU and Britain until the end of 2026 to comply with local content rules, to delay the imposition of tariffs on EVs traded with the UK.

Britain and the EU are each other's largest market for exports of EVs, which are being encouraged as an alternative to carbon-emitting internal combustion engine vehicles powered by gasoline or diesel.

The timeline extension was proposed earlier this month by the EU. This proposal was then put forward to the EU Council which gave its formal approval on Thursday.

Data published this week showed that sales of electric cars in the EU represented almost half of all new passenger car registrations between January and November.

  - Reuters