The European Commission has proposed to reverse the EU’s ban on new internal-combustion engine vehicles set for 2035, responding to lobbying from the automotive industry, particularly in Germany and Italy. This proposal, which requires approval from EU member states and the European Parliament, aims to allow sales of certain non-electric vehicles and replace the existing requirement for zero-emission vehicles with a target to reduce CO2 emissions by 90% from 2021 levels.
Key changes include a compliance window from 2030 to 2032 to achieve a 55% CO2 reduction in cars compared to 2021 levels, and an eased target for vans, reducing the goal from 50% to 40%. Environmental groups warn that this could lead to a 25% decrease in battery-electric vehicle sales by 2035, amidst concerns about the sustainability of proposed offsets like advanced biofuels.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
