Release Date : 2024-09-26
According to Bloomberg, the head of the European Automobile Manufacturers Association (ACEA) stated that before the EU's stricter new carbon emission reduction regulations come into effect, European automakers are facing increasing challenges because demand for electric vehicles in the European market is lower than expected and costs are rising.
On September 25, ACEA Director General Sigrid de Vries said in an interview with Bloomberg TV that compared to pre-pandemic levels, the EU auto industry "still has a gap of more than 2 million vehicles in terms of sales and production," which has created significant tension—sometimes referred to as a "perfect storm."
Last week, ACEA called for "urgent action" before the stricter EU emission targets take effect in 2025, as the EU carbon emission regulations could expose automakers to billions of euros in fines. In response, Mercedes-Benz CEO Ola Källenius expressed agreement with ACEA's views and urged the EU to relax carbon emission regulations.
De Vries noted that while EU automakers remain committed to the transition to green travel, regulators need to be more "flexible" and find ways to better support the industry. "We are currently engaged in numerous negotiations, reporting to policymakers about the problems and concerns that exist and the background of those concerns."
Sales of electric vehicles in Europe have fallen short of expectations after countries like Germany cut incentives; Italy's decline in car production has also drawn attention, prompting the Italian government to reconsider EU rules.
At the corporate level, earlier this month, Volkswagen Group announced plans to close its German factories for the first time in years to save costs. It is estimated that Volkswagen Group will face significant fines after the EU implements the latest emissions standards next year, while companies such as Stellantis and BMW are expected to comply with the upcoming emissions regulations.
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