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EU to Ban New Combustion Engine Vehicles by 2035

OIL PRODUCTS

The European Parliament and Council reached a preliminary deal to ban the sale of new gasoline and diesel engine vehicles by 2035.

- No new combustion engines cars and vans are to be sold in the European Union from 2035.

- There is no restriction on driving combustion engine vehicles from 2035.

- Co-legislators agreed to a 55% CO2 emission reduction target for new cars and 50% for new vans by 2030 compared to 2021 levels, and 100% emissions cut by 2035.

- Cars currently account for 12% of the bloc’s CO2 emissions, overall transport accounts for 25%.

- As part of the regulatory incentive mechanism for zero- and low-emission vehicles (ZLEV) until 2030, manufacturers can be rewarded with less strict CO2 targets, when meeting certain benchmarks for sales of ZLEVs.

- The share of the EU-27’s new vehicle registrations of electric cars has risen to 17.8% in 2021, compared with 10.7% in 2020, according to EEA data.

- The ban is part of the EU’s climate change package “Fit for 55”, submitted to the Council in July 2021, aiming to reduce the bloc’s GHG emissions by 55% by 2030, compared with 1990
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