LONDON ― Ineos, the producer of petrochemicals and fledgling carmaker, said on Wednesday that it was pausing the launch of its first electric vehicles , citing 'reluctant consumer uptake' as a key reason.The decision by the group, owned by British billionaire and Manchester United stakeholder Jim Ratcliffe, comes less than five months after it announced plans to start producing Ineos Fusilier EV models in 2027.
' Ineos stressed it was 'committed to bringing an EV to market not just because of legislation but because we want to ― it is the right thing to do ― but as a new small volume manufacturer, we can only produce vehicles that will sell.' Recent data has shown a slowing of EV purchases in the UK and abroad, blamed on high prices amid a cost-of-living crisis.The Ineos Fusilier is a slightly smaller version of the Ineos Grenadier, which comes in petrol and diesel models.
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