The European Commission proposed on Wednesday delaying by three years a tightening of local content rules that would have led to import tariffs on many electric vehicles (EVs) traded between the European Union and Britain from the start of 2024.

The Commission also said it was setting aside an additional 3 billion euros ($3.24 billion) to boost the EU's battery manufacturing industry, a move designed to boost local content and reduce reliance on batteries and materials from China. ($1 = 0.9267 euros) (Reporting by Philip Blenkinsop)