Ineos, the 4×4 company owned by Sir Jim Ratcliffe, has announced that it is delaying the launch of its new Fusilier model indefinitely. The decision is a result of weak demand for electric vehicles (EVs) and uncertainty surrounding governmental EV policies. While the Fusilier was initially planned to enter production in 2027, Ineos has decided to wait for the EV market to mature and for the legislative framework around it to become clearer.
One of the reasons for the delay is Ineos’ recognition of the limitations of battery-electric vehicles. Although the Fusilier will be offered with a pure-electric drivetrain, it will also have a petrol range-extender to increase its off-road range. Ratcliffe has previously expressed his concerns about EVs, stating that they don’t provide a decent journey from point A to point B and that they can’t be easily refueled.
Ineos Automotive has stated that it wants to bring an EV to market not just because of legislation, but because it believes it is the right thing to do. However, as a small-volume manufacturer, Ineos can only produce vehicles that will sell. The company is waiting for consumer confidence in EVs to grow and for policy makers to provide long-term clarity on factors such as tariffs, timings, taxation, raw materials, infrastructure, and affordability.
The decision by Ineos comes as demand for electric vehicles in the UK continues to rise. According to the Society of Motor Manufacturers and Traders (SMMT), EV sales in the UK increased by 6.2% year-on-year in May, giving them a 17.6% market share. However, this falls short of the 22% EV sales mix required by the UK government’s zero-emission vehicle mandate this year.
Ineos has been critical of the ban on combustion car sales that will be imposed in the EU and the UK in 2035. The company believes that there should be more consideration of different solutions to reduce CO2 emissions and that customers should not be forced to switch to EVs.
Overall, Ineos’ decision to delay the launch of the Fusilier reflects the challenges and complexities of the EV market. While EV demand is on the rise, there are still concerns about range limitations, charging infrastructure, and policy uncertainties. Ineos is taking a cautious approach, waiting for the right conditions before bringing its EV to market. As the industry continues to evolve, it will be interesting to see how Ineos and other manufacturers navigate these challenges and meet the growing demand for electric vehicles.