According to Renault CEO Luca de Meo, the impending stricter rules could either halt the production of 2 million European cars or lead to fines of nearly $17 billion.
The ACEA described the current situation as a 'crisis' due to low consumer demand and what they perceive as unfair competition from non-European EV manufacturers, particularly from China.
European automakers are pushing back against new carbon targets set to begin as early as 2025, fearing the consequences of multi-billion dollar fines if they fail to comply.
With pressing deadlines for EV transition, major automakers are urging policymakers to 'pump the brakes' on current electrification mandates, citing struggles in the cooling market.
#electric-vehicles #european-automotive-industry #carbon-targets #automaker-regulations #ev-market-challenges
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