03:34 PM EDT, 10/01/2024 (MT Newswires) -- Ford Motor ( F ) wants the British government to help support electric vehicle sales by reducing its value-added tax on vehicles and street charging stations, a company executive told Bloomberg in an interview.

The UK has set aggressive goals for electric and other zero-emission vehicles, requiring 22% of all new car sales during 2024 be zero-emission and the target rising to 80% by 2030. Ford's EV sales this year in the UK are well below the 22% target, and Lisa Brankin, the chair of Ford UK, told the news outlet Tuesday the UK government has a role in bolstering customer demand by helping lower purchase prices.

The EV demand is not enough to meet the targets, Brankin said during the interview as she advocated for EV subsidies, saying the government needs to intervene if they want automakers to meet the target.

Ford did not immediately respond to a request for comment from MT Newswires on Tuesday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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