British Auto Industry Risks Slow Decline After Brexit

British Auto Industry Risks Slow Decline After Brexit

BrexitBritain and E.U. Reach Deal5 Things to KnowPost-Brexit Trade DealAlready Out of Date?British Auto Industry Risks Slow Decline After BrexitLacking a strong domestic battery industry, Britain may be left behind by the shift to electric cars.The Mini electric car, unveiled in 2019 at the BMW plant near Oxford. Almost all British car factories are owned by foreign companies.Credit...Tolga Akmen/Agence France-Presse — Getty ImagesBy Jack EwingJan. 26, 2021, 5:00 a.m. ETAston Martin, Austin-Healey, Jaguar, Lotus, Triumph, MG. Those are just a few of the legendary auto brands that have rolled out of British factories over the years.The list of British-made cars that consistently earned money is a lot shorter. Now that Britain is firmly outside the European Union, it could be on the verge of dwindling even more.The Brexit deal worked out with the European Union last month avoided cross-channel tariffs that would have been disastrous for auto manufacturing in Britain. But the pact will create more customs paperwork and slow down supply chains, while creating disincentives for global carmakers to continue investing in British factories as they begin retooling for electric vehicles.A provision of the deal that takes effect in 2027 could lead to punishing tariffs on cars made in