CleanTechnica•about 2 months ago
Leaked: Car Industry’s Latest Demands Could Cost EU Extra €74bn in Oil Imports
Key Takeaway
The car industry's push for weaker CO2 targets threatens to increase EU fossil fuel dependency and costs, potentially slowing the energy transition and impacting future electricity demand growth from the transport sector.
AI Summary
- •The European car industry (ACEA) is lobbying EU Environment Ministers to weaken car CO2 emission targets.
- •Analysis by T&E indicates these demands could result in an additional €74 billion in oil imports for the EU.
- •This move risks slowing the transition to electric vehicles (EVs) and limiting the availability of more affordable EV models, despite increasing consumer interest.
- •For developers and large power consumers, this signals a potential for continued high fossil fuel import costs for the EU, indirectly affecting overall energy market stability and potentially slowing the growth of electricity demand from the transport sector.
Topics
emissionsoempolicy
Article Content
ACEA document told Environment Ministers to slash car CO2 targets, depriving motorists of more affordable EV models. The European car industry’s latest demands for weaker climate targets could result in an extra €74bn of oil imports — just as interest in buying EVs reaches new peaks. That’s according to T&E ... [continued] The post Leaked: Car Industry’s Latest Demands Could Cost EU Extra €74bn in Oil Imports appeared first on CleanTechnica .