Hyperdrive
EU Car Lobby Mulls Two-Year Delay of 2025 Emissions Targets
- Informal paper says car industry faces fines up to €16 billion
- Slow EV demand puts industry in crisis: draft proposition
The scope for regulatory lenience is low, and the 2025 rules could accelerate capacity restructuring within the industry.
Photographer: Jasper Juinen/BloombergThis article is for subscribers only.
The European Union should use emergency regulation to delay its 2025 emissions targets for automakers by two years, according to a draft proposition from the industry lobby seen by Bloomberg.
EU rules targeting a CO2 fleet emission of about 95 grams of CO2 per kilometer per vehicle would require automakers to either halt production of about 2 million cars or be exposed to fines that could reach €13 billion ($14.3 billion) for passenger cars, according to estimates by the European Automobile Manufacturers’ Association contained in the draft and seen by Bloomberg.