As a former European Automotive correspondent for Reuters, I’ve a spent a few years writing about the industry. I will penetrate the corporate hype and bluster and find out how these gigantic enterprises are really doing. I also love to drive their magnificent machines, and their more modest ones. I’ll be telling you if the technology works, too.
European Union governments have decided there will be an electric vehicle revolution and have ordered their citizens to buy more EVs, but according to expert forecasts, they aren’t cooperating.
Industry leaders like Stellantis CEO Carlos Tavares have said this was problem induced by politicians who think they know technology better than engineers. Meanwhile, European Parliamentary elections in June weakened Green and centrist parties, leading to speculation the EU’s 2035 new ICE ban might be diluted by the Commission. So far there has been little evidence to suggest that might happen, although some German automakers have urged action.is the latest investment researcher to slash its forecasts and said, in a report, fines next year could reach €5 billion .
Rho Motion’s latest sales data shows EV sales in Europe are stalling, especially in Germany, and said EU tariffs on Chinese EVs are likely to make this worse. EV sales in the 12 months to the end of July fell 8%.“The downgrade cycle for EU EVs continues. will miss targets. Persistent weakness in sales momentum, lack of new government incentives and the inflationary impact of import duties on China-made EVs, lead us to lower our expectations for electrification in Europe once more.
“The future is electric, but the past is not over,” said VW Group CFO Arno Antlitz at a Reuters conference earlier in the summer. One-third of product investment is allocated to keeping combustion cars competitive, Antlitz said. “It is a third and it will stay a third,” he said.“As the novelty of EVs fades, the last several months have brought forth the realization that there are still fundamental issues that persist and need to be addressed for EVs to be a widely accepted solution.
Electric Car Sales 2030 CO2 Targets 2035 New ICE Sales Ban Carlos Tavares Volkswagen HSBC S&P Ford Inovev
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