Drop in electric vehicle sales puts manufacturers at risk of ‘multibillion-euro’ fines and production cuts
European carmakers have said they face the prospect of “multibillion-euro” fines or significant production cuts when new EU carbon emissions standards come into force next year, adding to pressure on Brussels to water down the rules. Acea, the European car industry body, on Thursday called for an “urgent review” of emissions rules to be applied in 2025 and of a ban on new internal combustion engine cars in 2035.
According to the paper, the EU carmakers need to have a market share of about 20 to 22 per cent to comply with the regulations, but that share has stagnated at less than 15 per cent, meaning they need to significantly cut production and sales of petrol vehicles or face large fines. “You see really momentum building that there is recognition there is something the matter and it needs to be addressed sooner rather than later,” Sigrid de Vries, Acea’s director-general, told the Financial Times.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Brussels considers sanctions on Slovakia over backsliding on rule of lawEuropean Commission could withhold funds as Robert Fico targets judiciary and political opponents
Read more »
Diamond League Final: Matt Hudson-Smith leads British charge in BrusselsMatthew Hudson-Smith aims to close out his season with the Diamond League title after narrowly missing out on the Olympic 400m gold earlier this summer.
Read more »
Diamond League final: Charlie Dobson claims surprise 400m win in BrusselsGreat Britain’s Charlie Dobson produces a stunning run in the Diamond League season finale in Brussels to win the men’s 400 metres.
Read more »
US, Britain and Brussels to sign agreement on AI standardsGrowing push to regulate fast-growing technology leads to pact focused on human rights and democracy
Read more »
The German election bombshell that will terrify Brussels: Victory for AfD and hard-left BSW with...Alternative for Germany party leader Bjoern Hoecke celebrates regional election win. The party was on track to become the first far-right party to win a regional election in Germany since WWII but was almost certain to be excluded from power.
Read more »
The German election bombshell that will terrify Brussels: Victory for AfD and hard-left BSW with...Alternative for Germany party leader Bjoern Hoecke celebrates regional election win. The party was on track to become the first far-right party to win a regional election in Germany since WWII but was almost certain to be excluded from power.
Read more »