Free Trial

EMISSIONS: EU Countries Seek No Fines For Automakers With New Emissions Targets

EMISSIONS

Austria, Bulgaria, Poland, Romania, Slovakia, Czech Republic and Italy are seeking to prevent automakers from facing penalties from 2025, a document published on the Austrian parliament website showed, cited by Reuters. 

  • EU regulations require average emissions from newly registered cars to be 15% lower in 2025 compared to 2021 levels.
  • The EU will lower the cap on average emissions from new vehicle sales to 94 grams/km from 116 g/km from 2025.
  • Exceeding that cap could lead to fines of €95 per excess carbon dioxide g/km multiplied by the number of vehicles sold.
  • The slowing uptake in EV sales makes achieving the target more difficult, countries have argued.
  • "Such penalties would severely limit the ability of industry to reinvest in innovation and development, thus harming Europe’s competitiveness on the global stage”, the document said.
  • This is following remarks from Germany’s Chancellor Olaf Scholz earlier this week, urging the EU carmakers should not face fines if failing to meet the new targets. 
159 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Austria, Bulgaria, Poland, Romania, Slovakia, Czech Republic and Italy are seeking to prevent automakers from facing penalties from 2025, a document published on the Austrian parliament website showed, cited by Reuters. 

  • EU regulations require average emissions from newly registered cars to be 15% lower in 2025 compared to 2021 levels.
  • The EU will lower the cap on average emissions from new vehicle sales to 94 grams/km from 116 g/km from 2025.
  • Exceeding that cap could lead to fines of €95 per excess carbon dioxide g/km multiplied by the number of vehicles sold.
  • The slowing uptake in EV sales makes achieving the target more difficult, countries have argued.
  • "Such penalties would severely limit the ability of industry to reinvest in innovation and development, thus harming Europe’s competitiveness on the global stage”, the document said.
  • This is following remarks from Germany’s Chancellor Olaf Scholz earlier this week, urging the EU carmakers should not face fines if failing to meet the new targets.