Brussels Slams Brakes On 2035 Combustion Engine Ban
https://www.zerohedge.com/markets/brussels-sl...engine-ban
Quote:The European Commission is preparing to retreat from its planned 2035 ban on new combustion-engine car sales, yielding to pressure from Germany, Italy and automakers struggling to compete with U.S. and Chinese rivals, according to Reuters. The announcement is expected Tuesday.
EU and industry sources say the ban could be delayed by five years or softened indefinitely, turning a once-firm rule into something more aspirational. The reversal would mark the bloc’s biggest climb-down from its green agenda in the past five years.
"The European Commission will be putting forward a clear proposal to abolish the ban on combustion engines," said Manfred Weber, head of the European Parliament’s largest political group. "It was a serious industrial policy mistake."
Traditional automakers such as Volkswagen and Stellantis have lobbied hard for relief, arguing EV demand has fallen short, costs remain high and charging infrastructure is uneven. EU tariffs on Chinese EVs have barely dented the pressure.
"It's not a sustainable reality today in Europe," Ford CEO Jim Farley said last week, adding industry needs were "not well balanced" with EU CO2 targets.
https://www.zerohedge.com/markets/brussels-sl...engine-ban
