Car manufacturers face multi-million fines for insufficient growth in EV sales
In the coming years, the European automotive industry faces a major challenge linked to stricter CO2 emission regulations. Luca de Meo, CEO of Renault, warns that the industry could be fined up to 15 billion euros if electric vehicle sales do not grow as required. From next year, new, more stringent rules on carbon dioxide emissions will come into force.
De Meo notes that if the pace of growth in electric car sales does not accelerate, the automotive industry will be forced to pay huge fines or cut production by more than 2.5 million vehicles. The current rate of growth in EV production is half of what is necessary to avoid fines. The Renault CEO stresses that the problem should not be put off until 2035, as is often said, but requires urgent action now, in 2025, to prevent future difficulties.
