According to foreign media reports, the European Parliament has recently cleared the way for the rapid approval of the EU's more lenient carbon dioxide emission targets for cars and vans. This will give automakers more time to meet the targets and is expected to reduce potential fines they may face.
European automakers had warned that, given that the current carbon emission targets rely on selling more EVs, and they are lagging behind their Chinese and US competitors in this area, the current carbon emission compliance requirements could lead to European automakers facing hefty fines of up to 15 billion euros (approximately $17 billion).
After intensive lobbying by European automakers, the European Commission proposed allowing automakers to meet emission targets based on their average emissions from 2025 to 2027, rather than solely on this year's emissions.
EU lawmakers voted in support of a motion to rapidly approve this change, rather than engaging in months-long discussions. They will vote again on the European Commission's proposal in the coming days. However, the proposal still needs to be approved by EU governments.
European Commission President Ursula von der Leyen had previously stated that this change would provide European automakers with "breathing space." However, Volkswagen recently said that even with an extended deadline for compliance, the industry will still face pressure in 2025.
The EV industry organization E-Mobility Europe warned that changing the 2025 carbon dioxide emission target deadline will further cause Europe to lag behind China in the EV sector and hinder investment in charging infrastructure.
It is worth noting that the EU also has a long-term climate goal: all new cars sold from 2035 must be zero-emission vehicles, effectively banning the sale of new internal combustion engine vehicles. Some EU lawmakers and EU member state governments plan to overturn this goal in a policy review later this year, arguing that it will harm already struggling automakers. The European Commission has so far refused to revise the 2035 carbon emission target, stating that it is crucial for achieving green goals and providing a predictable long-term investment environment.