EU governments have agreed to softer EU CO2 emissions targets for cars and vans that will to allow carmakers more time to comply and should reduce potential fines.
Why it’s important
European car manufacturers warned existing targets to be met this year could result in fines of up to €15bn (R309.3bn), given that the goals rely on selling more electric vehicles, a segment where they lag Chinese and US rivals.
After heavy lobbying, the European Commission proposed allowing carmakers to meet the targets based on their average emissions over the period 2025-2027, rather than just this year.
Context
The proposed change requires approval from the European Parliament and the Council, the grouping of EU members.
The parliament is expected to approve the adjustment in a vote on Thursday after agreeing to fast-track the process.
Reuters
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