Carmakers face tougher EU CO2 emissions targets in 2025 with the cap on average emissions from new vehicles sold set to fall to 94g/km from 116g/km in 2024.
“If electric car sales remain at their current level, the European car sector could find itself forced to pay fines of up to 15 billion euros or give up production of more than 2.5 million cars,” De Meo told France Inter radio.
“The speed of increasing adoption of electric (cars) is half of what we need to achieve the targets that will allow us not to pay fines,” added De Meo, who is also president of the European Automobile Manufacturers Association.
It could also lead to penalties of hundreds of millions of euros for major car manufacturers.
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