"The future may be electric, but that future is being postponed. The European Commission, citing the need for flexibility, has softened its ambitious plan to ban the sale of gas-powered cars by 2035. Instead of requiring 100% of new cars to be zero-emission vehicles by that date, the revised plan would allow 10% of new car sales to be hybrids or other vehicles as long as manufacturers purchase carbon offsets to compensate."
"This change is part of a broader ' Automotive Package ' designed to help the European car industry become both clean and competitive. If the European Parliament approves this shift, it would likely satisfy traditional European carmakers that have been asking for more time to move beyond hybrid vehicles. These companies are struggling to compete with Tesla and the surge of affordable electric vehicles (EVs) coming from China. But the policy change has created division among EV startups and their investors."
""China already dominates EV manufacturing," said Craig Douglas, a partner at World Fund, a European climate-focused venture capital firm. "If Europe doesn't compete with clear, ambitious policy signals, it will lose leadership of another globally important industry - and all the economic benefits that come with it." Douglas was among the signatories of "Take Charge Europe," an open letter to European Commission President Ursula von der Leyen that was published in September."
The European Commission relaxed its plan to ban new gas-powered car sales by 2035, introducing flexibility for manufacturers. The revised rule allows 10% of new car sales to be hybrids or other non-zero-emission vehicles if manufacturers buy carbon offsets. The change is framed within an Automotive Package intended to help the European car industry become cleaner and more competitive. Traditional European carmakers gain more time to transition amid intense competition from Tesla and affordable Chinese EVs. The policy shift has split EV startups and investors and prompted an open letter, while the automobile sector remains a significant share of EU employment.
Read at TechCrunch
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