Brussels (Brussels Morning Newspaper) – Stellantis, an automaker company, welcomed the European Commission’s plan to propose a softening of the European Union’s carbon emission targets for cars.
The European Commission yielded to pressure from European automakers by announcing that it would give them three years, rather than only one, to fulfill new CO2 emission targets for their cars and vans.
Europe’s second largest automaker in a statement said,
“Stellantis welcomes the announcements made yesterday by Commission President von der Leyen.”
Company’s Chairman John Elkann attended the discussions in Brussels, Stellantis said.
Stellantis expressed the extended compliance course on carbon emission targets was a “meaningful step in the right direction” to maintain the auto industry’s competitiveness, while remaining determined to the targets and electrification.
“This initiative, together with further support to targeted purchase and fiscal incentives, cheaper green energy and investment into charging infrastructure, can be a real accelerator in the ramp up towards electrification,”
It added.
How does the EU plan to ease CO2 targets?
A day earlier, the European Union significantly reduced its cap on automotive carbon dioxide emissions this year, representing at least one-fifth of all sales by most car firms, which must be electric vehicles (EVs) to sidestep heavy fines. The ultimate objective is for zero emissions in 2035.
European Commission President Ursula von der Leyen expressed after meeting auto sector executives, campaign groups and unions that she would offer compliance based on each automaker’s average emissions over the time from 2025 to 2027, rather than in 2025 alone.
Fulfilling the targets, and evading related fines, depends on selling more electric vehicles, a feature where European carmakers lag Chinese and U.S. competitors. Shares in European automakers, including Renault, Volkswagen, BMW and Mercedes-Benz increased by between 1.5% and 4% after von der Leyen’s remarks.
“The targets stay the same. They have to fulfil the targets, but it means more breathing space for industry,”
Von der Leyen conveyed to a news conference, saying that the proposal will still need approval from EU countries and the European Parliament.
