EU Relaxes Emission Rules: A Breathing Space for Automakers
European automakers have been granted more time to meet EU CO2 emissions targets after the European Parliament approved a softening of the rules. This change comes after manufacturers warned of potential fines, with companies now having until 2027 to average their emissions instead of this year.
European automakers received a significant reprieve as the European Parliament voted to amend EU CO2 emissions targets for cars and vans. The adjustment, backed by a majority, allows automakers a longer timeframe to meet their emission goals.
The decision came after manufacturers voiced concerns over potential fines reaching up to 15 billion euros due to their current lag in electric vehicle sales compared to Chinese and U.S. competitors. The European Commission's proposal was to calculate average emissions over the period 2025-2027, easing immediate pressure.
With a voting result of 458 in favor and 101 against, the alteration offers manufacturers a much-needed 'breathing space.' Criticism persists, however, as some argue that the industry had ample time to prepare for the 2025 targets, questioning the accuracy of the fine estimate.
(With inputs from agencies.)
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