European Automakers Seek Delay on CO2 Emissions Targets
European Automakers Seek Delay on CO2 Emissions Targets
European Automakers Seek Delay on CO2 Emissions Targets
News summary

Europe's automotive industry is facing significant challenges as electric vehicle (EV) sales stalled in August, prompting calls from manufacturers for a relaxation of EU emissions targets. The European Automobile Manufacturers Association (ACEA) warns that many automakers could incur multi-billion-euro fines due to slow progress in transitioning to electric production. Countries like Italy, Germany, and the Czech Republic are advocating for a delay in the tightening of CO2 regulations scheduled for 2025, as they argue that current targets are unattainable given market conditions. Meanwhile, tensions are rising over proposed tariffs on Chinese-made EVs, with Germany lobbying against these measures amid fears of losing market share to Chinese competitors. The automotive sector is deeply divided on the issue, with companies like Stellantis opposing delays while others, like Renault, seek more time to adapt. As the EU prepares for a critical vote on tariffs, the outcome could further complicate the industry's recovery amidst economic pressures.

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