
Will the European Union Roll Back Its 2035 EV Monopoly Target to Save Its Industry?
The European Union’s plan to phase out the sale of new combustion engine vehicles by 2035 in favor of electric vehicles (EVs) may be reconsidered due to disappointing sales and China’s growing influence. The move could save the EU’s auto industry, which is at risk of being threatened by Chinese manufacturers.
Industry experts claim that recent surveys have revealed a reluctance among European drivers to switch from combustion engines to EVs, citing high prices for public charging and vehicle costs as major deterrents. This resistance is compounded by China’s significant lead in efficiency and its ability to design and build state-of-the-art sedans and SUVs twice as quickly.
In the face of these developments, industry leaders are urging the EU to reconsider its stance and expand its regulations to include hybrid vehicles and e-fuels, effectively giving car manufacturers more flexibility. This move would not only save the auto industry but also encourage innovation in emission-reducing technologies.
However, environmental groups are adamant that no concessions should be made, citing environmental concerns as their reason. They believe that any weakening of the rules will make it difficult for European carmakers to compete globally and delay investment in mass-market EV models necessary for global competitiveness.
In light of these conflicting views, the EU Commission is set to review its 2035 target later this year, considering the possibility of adopting “full technology neutrality” as a core principle.
Source: www.forbes.com