In other regions of the world, there are no penalties for manufacturers if the CO2 emissions of new car fleets are too high, said Bosch CEO Stefan Hartung to the trade journal "Auto, Motor und Sport", according to a preliminary report on Wednesday. "This has consequences on the world market. The question must be asked: are the fines the right approach? I say no." Europe cannot try to regulate the world. "It won't work."
This year, according to EU regulations, the automotive industry has to reduce its output of the greenhouse gas CO2 by almost 20 percent on average compared to last year through higher sales of zero-emission electric cars. Most manufacturers in Europe are at risk of missing the targets due to weak e-car sales, in which case they will be liable for fines. The European Automobile Manufacturers' Association ACEA warned that the industry could face 15 billion euros in fines in the middle of the crisis.
Chancellor Olaf Scholz (SPD) and the prime ministers of the three car-producing states of Bavaria, Baden-Württemberg and Lower Saxony, Markus Söder (CSU), Winfried Kretschmann (Greens) and Stephan Weil (SPD), are already calling for the fines to be waived. In mid-December, Climate Action Commissioner Wopke Hoekstra rejected an initiative by the largest faction in the European Parliament, the conservative EPP, to relax the EU requirements.
(Report by Ilona Wissenbach. Edited by Ralf Bode. For further inquiries, please contact the editorial team at frankfurt.newsroom@thomsonreuters.com)