The European car industry could face fines of €15 billion for CO2 emissions due to slowing demand for electric vehicles. Word of Luca DeMeowho in addition to being the CEO of Renault is also the number one of ACEA: as the Italian manager recalled, the car manufacturers operating in the Old Continent have to face more stringent objectives on CO2 in 2025, as the average emissions cap for new vehicle sales drops to 94 grams/km from 116 g/km in 2024.
De Meo alarm: fines due to emissions?
“If electric vehicles remain at the current level, the European industry may have to pay 15 billion euros in fines or to abandon the production of more than 2.5 million vehicles – De Meo’s words spoken on France Inter radio and reported by Reuters – The speed of the transition to electric is half of what we would need to achieve the goals that would allow us not to pay fines”.
Possible scenarios
We remind you that exceeding the CO2 limits can lead to fines of 95 euros per g/km of excess CO2 multiplied by the number of vehicles sold: translated, this could lead to fines for hundreds of millions of euros for the major car manufacturers operating in the EU. A significant concern that also shakes De Meo, who concluded: “Everyone is talking about 2035, so in 10 years, but we should be talking about 2025 because we are already in difficulty. We need to have some flexibility: setting deadlines and fines without being able to make them more flexible is very, very dangerous.”
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