Berliner Boersenzeitung - EU approves 2035 ban on new fossil fuel car sales

EUR -
AED 4.228872
AFN 71.972068
ALL 95.909842
AMD 434.62105
ANG 2.060869
AOA 1055.922261
ARS 1612.664041
AUD 1.626132
AWG 2.075573
AZN 1.962349
BAM 1.950864
BBD 2.321646
BDT 141.447046
BGN 1.897259
BHD 0.434591
BIF 3421.857394
BMD 1.151497
BND 1.469501
BOB 7.96509
BRL 6.015764
BSD 1.152694
BTN 106.183656
BWP 15.53909
BYN 3.398317
BYR 22569.334493
BZD 2.318365
CAD 1.568033
CDF 2507.959919
CHF 0.903603
CLF 0.026455
CLP 1044.636615
CNY 7.906464
CNH 7.925002
COP 4261.550951
CRC 543.330067
CUC 1.151497
CUP 30.514661
CVE 109.985776
CZK 24.434471
DJF 205.274212
DKK 7.472194
DOP 70.41277
DZD 152.14506
EGP 60.26191
ERN 17.27245
ETB 179.932431
FJD 2.545929
FKP 0.859123
GBP 0.862707
GEL 3.126354
GGP 0.859123
GHS 12.489347
GIP 0.859123
GMD 84.64225
GNF 10105.34523
GTQ 8.839097
GYD 241.164032
HKD 9.012851
HNL 30.512273
HRK 7.534821
HTG 150.989955
HUF 389.892131
IDR 19472.95998
ILS 3.606085
IMP 0.859123
INR 106.44101
IQD 1510.053265
IRR 1522019.494717
ISK 144.385837
JEP 0.859123
JMD 180.413545
JOD 0.816388
JPY 183.355687
KES 148.831121
KGS 100.697856
KHR 4626.275212
KMF 490.537296
KPW 1036.385217
KRW 1720.37028
KWD 0.353567
KYD 0.960595
KZT 564.217802
LAK 24695.163427
LBP 103228.165394
LKR 358.385716
LRD 210.95726
LSL 19.043312
LTL 3.40007
LVL 0.696529
LYD 7.357322
MAD 10.802176
MDL 20.016878
MGA 4777.973736
MKD 61.615023
MMK 2418.166226
MNT 4111.007847
MOP 9.292973
MRU 45.808704
MUR 52.864827
MVR 17.790309
MWK 1998.877461
MXN 20.552114
MYR 4.521965
MZN 73.591629
NAD 19.042487
NGN 1603.874006
NIO 42.424139
NOK 11.142746
NPR 169.893849
NZD 1.964862
OMR 0.442747
PAB 1.152724
PEN 3.944657
PGK 4.971379
PHP 68.561306
PKR 322.020359
PLN 4.26854
PYG 7463.1826
QAR 4.202604
RON 5.093645
RSD 117.390523
RUB 91.720314
RWF 1685.280067
SAR 4.320981
SBD 9.264001
SCR 15.257101
SDG 692.049195
SEK 10.754691
SGD 1.472235
SHP 0.863921
SLE 28.314872
SLL 24146.308417
SOS 657.650391
SRD 43.027403
STD 23833.655954
STN 24.438382
SVC 10.086393
SYP 127.674885
SZL 19.048221
THB 37.022348
TJS 11.04889
TMT 4.030238
TND 3.388926
TOP 2.772528
TRY 50.798269
TTD 7.822277
TWD 36.760144
TZS 2993.891239
UAH 51.039225
UGX 4315.120012
USD 1.151497
UYU 46.092982
UZS 13988.486971
VES 503.96085
VND 30255.574683
VUV 137.716839
WST 3.12565
XAF 654.298751
XAG 0.01351
XAU 0.000224
XCD 3.111977
XCG 2.077516
XDR 0.812706
XOF 654.335594
XPF 119.331742
YER 274.741289
ZAR 19.283306
ZMK 10364.857819
ZMW 22.392028
ZWL 370.781454
  • RBGPF

    0.1000

    82.5

    +0.12%

  • RYCEF

    -0.5500

    16.95

    -3.24%

  • BTI

    0.4700

    59.63

    +0.79%

  • CMSC

    -0.1250

    23.115

    -0.54%

  • VOD

    -0.0200

    14.38

    -0.14%

  • RELX

    -0.2850

    34.475

    -0.83%

  • BP

    0.7450

    42.305

    +1.76%

  • GSK

    -1.0150

    54.135

    -1.87%

  • RIO

    -0.4600

    91.62

    -0.5%

  • AZN

    -1.4100

    191.9

    -0.73%

  • BCE

    -0.0950

    25.795

    -0.37%

  • CMSD

    -0.0850

    23.065

    -0.37%

  • NGG

    1.9200

    91.61

    +2.1%

  • BCC

    -1.9400

    69.96

    -2.77%

  • JRI

    0.1400

    12.99

    +1.08%

EU approves 2035 ban on new fossil fuel car sales
EU approves 2035 ban on new fossil fuel car sales / Photo: Lou BENOIST - AFP

EU approves 2035 ban on new fossil fuel car sales

The European Parliament on Tuesday gave its final approval to a ban on new sales of carbon-emitting petrol and diesel cars by 2035, with a view to getting them off the continent's roads by mid-century.

Text size:

European Union member states have already approved the legislation and will now formally nod it into law at an upcoming ministerial meeting, despite opposition from conservative MEPs, the parliament's biggest group.

Supporters of the bill had argued to that it would give European carmakers a clear timeframe in which to switch production to zero-emission electric vehicles, and spur investment to counter competition from China and the United States.

This, in turn, will also support the European Union's ambitious plan to become a "climate neutral" economy by 2050, with net-zero greenhouse gas emissions.

"Let me remind you that between last year and the end of this year China will bring 80 models of electric cars to the international market," EU vice president Frans Timmermans warned MEPs.

"These are good cars. These are cars that will be more and more affordable, and we need to compete with that. We don't want to give up this essential industry to outsiders."

But opponents argued that neither European industry nor many private motorists are ready for such a dramatic cut off in production of internal combustion engine vehicles -- and that hundreds of thousands of jobs are at risk.

"Our proposal is ... to let the market decide what technology is best to reach our goals," said MEP Jens Gieseke, a member of the centre-right European People's Party.

Gieseke declared that arguments from Green and socialist MEPs that electric cars are cheaper to run had been rendered "null and void" by the crisis of soaring energy costs.

"In Germany 600,000 people work on ICE production, those jobs are at risk," he declared, urging the European Commission to rethink plans to also extend the ban to trucks and buses.

The EPP group warned of what it said would be the "Havana effect" -- Europeans continuing to drive vintage fuel-burning cars after new sales are banned because they can't find or afford an electric.

Opponents also argue car batteries are produced abroad by Europe's competitors like the United States, but Timmermans argued that thanks to EU-backed investment European production would increase.

Green MEPs stressed the importance of the ban in reducing emissions and pollution.

- Victory for the planet? -

Karima Delli, president of the transport committee, declared: "Today's vote is a historic vote for the ecological transition.

"We will no longer, or almost no longer, have petrol or diesel cars on our roads in 2050 ... it is a victory for our planet and our populations"

Cars currently account for about 15 percent of all CO2 emissions in the EU, while transportation overall accounts for around a quarter.

In October last year, EU member states, the European Commission and parliament's negotiators agreed on a proposal to reduce CO2 emissions from new cars in Europe to zero by 2035.

In practice, in the final legislation, this means a halt to sales of new petrol and diesel cars, light commercial vehicles and hybrids in the bloc by that date, in favour of all-electric vehicles.

- US green subsidies -

Car-making giant Germany and conservative MEPs have been dubious about the new rules, fearing the burden of re-tooling their plants and retraining workers while global rivals have looser targets.

But the European car industry itself did not lobby hard against the law, with many firms already jockeying for position in the race to become electric vehicle giants.

Since the law began its journey through the EU legislative process, however, the United States has unveiled a huge plan to subsidise the green transition of its own industry with government hand-outs.

This has led to fears in Europe that its US rival will siphon away investment and jobs in electric vehicle and battery production.

Currently around 12 percent of new cars sold in the European Union are electric, with consumers shifting away from CO2-emitting models as energy costs and greener traffic regulations bite.

Meanwhile, China -- the world's biggest automobile market -- wants at least half of all new cars to be electric, plug-in hybrid or hydrogen-powered by 2035.

The law passed the Strasbourg assembly by 340 votes to 279, with 21 abstentions.

(K.Müller--BBZ)