VW to EU: let's go even lower on emissions

Volkswagen is unveiling one new electric car after another, and that may give it a head start on rivals as Europe cracks down on greenhouse gas emissions.

The EU last month raised its target for cuts to 55% by 2030 from 1990 levels.

Europe's automakers will find out in July what cuts they're expected to make.

Now Reuters sources say VW has quietly told Brussels policymakers it would support tougher standards.

That's likely to leave smaller rivals riled.

Two sources say tensions came to a head at a meeting of European car chiefs in March.

There several chief executives expressed concern over what emissions targets would do to profits, but got no support from VW.

The German giant may feel it's well placed to take advantage.

It's sitting on a $29 billion cash pile that it can invest.

Meanwhile, its new models are gobbling up market share for EVs in Europe, soaring ahead of Renault and Tesla.

VW Group premium brands, like Audi and Porsche, are also well placed to sell luxury electric cars.

The going is tougher for more economy-focused brands.

Expensive batteries make it harder for them to sell cheap EVs at a profit.

Now one source says the battle over emissions has become a "quest for survival."

VW at least, will probably fancy its chances.