European Electric Car Industry Urges EU to Stick to 2035 Zero Emission Target

A letter signed by over 150 bosses from Europe's electric car industry, including Volvo Cars and Polestar, has urged the European Union to maintain its 2035 zero emission target for cars and vans. The industry leaders warned that delaying the target would stall Europe's electric vehicle market, give an advantage to global competitors, and erode investor confidence. This comes after a separate letter in August from heads of European automobile manufacturers' and automotive suppliers' associations, signed by Mercedes-Benz CEO Ola Källenius, suggested that a 100% reduction for cars by 2035 was no longer feasible.

Key Takeaways:

• Over 150 bosses from Europe's electric car industry signed a letter to urge the EU to stick to its 2035 zero emission target.
• The industry leaders, including Volvo Cars and Polestar, warned that delaying the target would stall Europe's EV market and give an advantage to global competitors.
• Mercedes-Benz CEO Ola Källenius signed a separate letter in August stating that a 100% reduction for cars by 2035 was no longer feasible.
• All European carmakers except Mercedes-Benz are on track to comply with CO2 regulation for cars and vans over 2025-2027.
• Mercedes-Benz would need to pool its emissions with Volvo Cars and Polestar to avoid fines for missing the targets.
• Industry leaders cited the clarity provided by the 2035 target and investments already made in areas like charging infrastructure and software development.
• European carmakers are facing the dual threat of increased competition from Chinese rivals and US tariffs.

Statistics:

• 150+ bosses from Europe's electric car industry signed the letter to the EU.
• 2025-2027: The time period during which all European carmakers except Mercedes-Benz are expected to comply with CO2 regulation for cars and vans.
• 2035: The target year by which the EU aims to achieve zero emissions for cars and vans.
• 100%: The reduction in emissions aimed for by the EU by 2035, according to the original target.

Sources:

• The European car industry's signatories, including Volvo Cars and Polestar, warned against any delays to the targets in a letter.
• Mercedes-Benz (MBGn. DE) CEO Ola Källenius signed a separate letter at the end of August stating that a 100 per cent reduction for cars by 2035 was no longer feasible.
• A report from transport research and campaign group TandE stated that all European carmakers except Mercedes-Benz are on track to comply with CO2 regulation for cars and vans over 2025-2027.