Europe's top car giants appear to be increasingly concerned about the prospect of massive fines, particularly as electric vehicle demand falters.
Europe's top car giants appear to be increasingly concerned about the prospect of massive fines, particularly as electric vehicle demand falters ahead of the next tightening of carbon regulations.
Rico Luman, senior sector economist for transport and logistics at Dutch bank ING, said Europe's carmakers had every reason to be concerned about the scale of the financial penalties. "European auto manufacturers, united in ACEA, therefore call on the EU institutions to come forward with urgent relief measures before new CO2 targets for cars and vans come into effect in 2025," ACEA said in a statement published Sept. 19.
Xavier Demeulenaere, associate director of sustainable mobility at S&P Global Mobility, said all of Europe's original equipment manufacturers have a "strong incentive" to boost their own EV sales to lower their average fleet emissions and comply with the regulated target. Pooling refers to the process in which car manufacturers team up to be considered as one entity when calculating their performance against a CO2 emissions target.in an analysis published Wednesday that the current state of play should instead be considered a "transitional phase" in which manufacturers adapt to new regulations and changing EV market dynamics.
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