EU lawmakers back ban on new fossil-fuel cars from 2035
By Kate Abnett
BRUSSELS, June 8 (Reuters) - European Parliament lawmakers on Wednesday voted to support an effective EU ban on the sale of new petrol and diesel cars from 2035, rejecting attempts to weaken the proposal to speed Europe's shift to electric vehicles.
The vote upholds a key pillar of the European Union's plans to cut net planet-warming emissions 55% by 2030, from 1990 levels - a target that requires faster emissions reductions from industry, energy and transport.
Lawmakers suported a proposal, made by the European Commission last year, to require a 100% reduction in CO2 emissions from new cars by 2035, which would make it impossible to sell fossil fuel-powered vehicles in the EU from that date.
Attempts by some lawmakers to weaken the target to a 90% CO2 cut by 2035 were rejected.
The law is not yet final. Wednesday's vote confirms the parliament's position for upcoming negotiations with EU countries on the final law.
The aim is to speed Europe's shift to electric vehicles and embolden carmakers to invest heavily in electrification, aided by another EU law that will require countries to install millions of vehicle chargers.
"Purchasing and driving zero-emission cars will become cheaper for consumers," said Jan Huitema, parliament's lead negotiator on the policy.
Carmakers including Ford and Volvo have publicly supported the EU plan to stop combustion engine car sales by 2035, while others, including Volkswagen, aim to stop selling combustion engine cars in Europe by that date.
But emails seen by Reuters show industry groups including German auto association VDA lobbied lawmakers to reject the 2035 target, which they said penalised alternative low-carbon fuels and was too early to commit to, given the uncertain rollout of charging infrastructure.
"Our positions are transparent. It is our mission to develop the best solutions with everyone involved," a VDA spokesperson said.
Electric cars and plug-in hybrid vehicles made up 18% of new passenger cars sold in the EU last year, although overall car sales dropped in the year amid semiconductor shortages, according to the European Automobile Manufacturers' Association.
Transport produces a quarter of Europe's planet-heating emissions, and greenhouse gases from the sector have increased in recent years, threatening efforts to avert dangerous levels of climate change.
Reporting by Kate Abnett Editing by Mark Potter
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.