Europe poised to water down landmark 2035 ban on new diesel and gasoline cars [CNBC]
RENAULT SA UNSP/ADR (RNLSY)
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Source: CNBC
The European Union on Tuesday is expected to water down its effective ban on sales of new combustion-engine cars from 2035, after lobbying efforts from Germany, Italy, and some automotive industry groups. Various media outlets have reported on the proposed softening of the policy in recent days, with Manfred Weber, a senior member of the European Parliament (MEP), telling Germany's Bild newspaper late last week that the ban would be weakened. Europe's ban on the sale of new diesel and gasoline cars and vans from 2035 was regarded as a landmark policy in the EU's flagship green deal when it was adopted in 2023. It aims to eradicate CO2 emissions from cars and vans by that year. Scaling it back could give greater flexibility to the region's original equipment manufacturers, which are already dealing with U.S. tariffs supply chain disruptions intense competition from China and a bumpy transition to EVs. Analysts have questioned whether the move will do much to shore up the regio
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