INEOS Automotive has brought the development program for its electric 2025 INEOS Fusilier compact 4x4 off-roader to a halt, citing weakening demand for EVs and uncertainty around governmental EV policies.
Inspired by the Mercedes-Benz G-Class, the third INEOS model after the Grenadier large SUV and the Quartermaster ute was originally meant to enter production in 2027.
However, the company will now reportedly wait for the slowing EV market to pick up, and for legislative framework encouraging EV uptake to be introduced.
Revealed earlier this year, the INEOS Fusilier was set to be offered with a battery-electric powertrain and the option of an innovative range-extender hybrid, with the latter boosting range to 700km.
In a statement, INEOS said: “We are delaying the launch of the INEOS Fusilier for two reasons: reluctant consumer uptake of EVs and industry uncertainty around tariffs, timings and taxation.
“Charging infrastructure for EVs in most markets continues to grow and consumer confidence will match that.
“But for the industry to meet net-zero targets there needs to be long-term clarity from policy-makers and a number of technology options available considering factors like raw materials, infrastructure and affordability.”
The company added that 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”.
Further justification in the press statement said that it was the company’s aspiration to only “produce vehicles that will sell”.
While growth in electric vehicle sales in Europe and North America is slowing, Australia is bucking the trend. Despite a 13.2 per cent downturn in June, EV sales for the first half of the year are up 16.5 per cent to 50,219 units, placing the industry on track to reach 100,000 annual sales for the first time.