Hey there, future-focused folks! 🚗💨 German Chancellor Olaf Scholz is hitting the accelerator, urging the European Union to swiftly wrap up a deal with China over electric vehicle (EV) tariffs.
\"It makes no sense to have conflicts about this,\" Scholz said upon arriving at the European Council summit. \"Therefore, I appeal to everyone to bring these negotiations to a good result now.\"
China's Ministry of Commerce echoed the sentiment, expressing hope that the EU will take concrete steps ASAP to advance consultations on a price commitment plan for Chinese EVs. China stands for resolving trade frictions through dialogue and is doing its utmost in the talks, according to spokesperson He Yongqian.
But that's not all! Scholz also called on the European Commission to ease up on financial penalties for EU carmakers that might miss next year's carbon dioxide (CO2) emission targets.
\"In the current global pressures facing the automotive industry, especially in Europe, it makes no sense to further burden companies with penalties for unmet targets in 2025,\" he said. 📉💸
He urged the Commission to find a way so that, if penalties become necessary, they don't drain the financial resources of companies that need to invest in electro-mobility and modern vehicles. 🛠️🔋
The European Green Deal aims for climate neutrality by 2050, pushing for a 90% reduction in greenhouse gas emissions from transport. Starting in 2025, stricter EU emissions rules will require carmakers to keep average emissions at 93.6 grams of CO2 per kilometer or less. Overshoot that limit, and it's a hefty fine of €95 (about $98.45) per gram per car! 😱
Industry insiders estimate that European automakers could face penalties totaling a whopping €15 billion for missing these targets, with Germany's own Volkswagen among the most at risk. 🚘💔
So what's the drive behind Scholz's urgent appeal? It's all about keeping the wheels of innovation turning without slamming on the brakes due to financial roadblocks. 🛣️🚧
Stay tuned as the EU navigates this winding road toward a greener future, hopefully without hitting any speed bumps along the way! 🌿🌍
Reference(s):
Germany's Scholz urges swift deal with China over EV dispute
cgtn.com
