Renault CEO Sounds Alarm Over €15 Billion Penalty Threats for European Car Manufacturers

Luca de Meo called for “some flexibility” to be introduced, as electric car sales slow on the continent. He told France Inter radio that to comply with the average CO2 emissions standards for all cars sold, companies would have to reduce their production by “more than 2.5 million vehicles” to avoid being penalised.

“One electric car could replace four petrol cars,” said De Meo, who is also president of the European Manufacturers Association. “We are preparing for 2025 now because we are receiving orders for the cars we will deliver, and according to our calculations, if electric car production remains at the current level, the European industry could have to pay 15 billion euros in fines or give up production of more than 2.5 million” units.
“We need to show some flexibility about us,” De Meo continued, warning that “just setting deadlines and fines without the possibility of making them flexible is very dangerous.”

In August, electric cars represented just 12.5% ​​of the European car market, with sales down 10.8% year-on-year.
The head of French Renault also stressed the importance of the electric car market for European battery manufacturing projects, noting that “if electric cars are not sold, these projects will face difficulties.”

The crisis that the European car industry is experiencing in light of Chinese competition is reflected in the announcement by the leading company Volkswagen that it is preparing an unprecedented austerity plan that may lead to the closure of its factories even in Germany.

Source: Agencies

#Renault #CEO #European #car #companies #face #billion #fines
2024-09-19 03:09:09

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What is the

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What is the

Element in HTML?

The

element is a fundamental part of HTML (Hypertext Markup Language) used to define a division or a section of an HTML document. It is a generic container element that allows developers to group elements together and apply styles, layout, and other attributes to them.

Purpose of

Element

The main purpose of the

element is to provide a way to structure an HTML document into logical sections, making it easier to apply styles, layout, and JavaScript behavior to specific parts of the page. The

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Attributes of

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element can have several attributes, including:

id: specifies a unique identifier for the element

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