Carmakers will face huge fines if they miss new emissions target. Peter Campbell, Motor Industry Correspondent in London September 8, 2019. More than 1m electric or plug-in hybrid vehicles are expected to be sold across Europe next year as carmakers ramp up output to avoid crippling fines under new emissions rules. The figure, predicted by environmental campaign group Transport & Environment, is four times higher than sales last year, and comes on the eve of the Frankfurt Motor Show, the last major industry gathering before the new rules come into force in January. Volkswagen, Daimler and Honda are among carmakers that will use the trade fair to showcase their latest electric vehicles, which are needed to help them avoid punitive fines that could exceed a billion euros for missing the targets. Under the rules, carmakers must lower the average CO2 output of their fleet to 95g of CO2 per km, or risk fines. Any carmaker that misses the target faces a fine of €95 per gramme over the target, multiplied by the number of cars sold in the EU. A flurry of electric and hybrid cars are coming to market this year and next, as carmakers seek to avoid penalties and the environmental stigma that would come from missing them.
FT 8th Sept 2019 read more »