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Stellantis welcomes EU move to soften car emission targets
Published by Global Banking and Finance Review
Posted on March 4, 2025
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Published by Global Banking and Finance Review
Posted on March 4, 2025
MILAN (Reuters) - Automaker Stellantis said on Tuesday it welcomed the European Commission's announcement that it would propose a softening of the bloc's carbon emission targets for cars.
The Commission, the European Union executive body, yielded to pressure from European automakers by announcing on Monday it would give them three years, rather than only one, to meet new CO2 emission targets for their cars and vans.
European Commission President Ursula von der Leyen said after meeting auto sector executives, unions and campaign groups that she would propose compliance based on each automaker's average emissions over the period 2025-2027, rather than in 2025 alone.
"Stellantis welcomes the announcements made yesterday by Commission President von der Leyen," Europe's second largest automaker said in a statement. Stellantis Chairman John Elkann attended the talks in Brussels on Monday, the company said.
Stellantis said the extended compliance period on carbon emission targets was a "meaningful step in the right direction" to preserve the auto industry's competitiveness, while remaining committed to targets and electrification.
"This initiative, together with further support to targeted purchase and fiscal incentives, cheaper green energy and investment into charging infrastructure, can be a real accelerator in the ramp up towards electrification," it said.
(Reporting by Giulio Piovaccari, editing by Alvise Armellini and Susan Fenton)