The EU's plans to slash carbon dioxide (CO2) emissions from vehicles and pu...
FILE PHOTO - A PSA Group logo is seen behind a car displayed during French carmaker's news conference as they announce the company's 2018 results at their headquarters in Rueil-Malmaison, near Paris, France, February 26, 2019. REUTERS/Christian Hartmann
The European Parliament and EU countries struck an agreement in December to cut emissions from cars by 37.5 percent by 2030, compared with 2021, and by 31 percent from vans. Tavares welcomed Franco-German plans to boost Europe’s electric car battery industry and to reduce EU carmakers’ reliance on Asian rivals by building two new battery factories.
“If European carmakers do not sell enough electric vehicles by 2020, 2025 and 2030, they will be ruined by fines. This forces us to reserve significant volumes of batteries with Asian suppliers, who are awaiting us with a big smile,” he said.
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