Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

EU needs phase-out date for new petrol and diesel cars, nine countries say

Published 03/10/2021, 10:21 AM
Updated 03/10/2021, 10:25 AM
© Reuters. FILE PHOTO: An electric car is charged by a mobile charging station on a street in Prague

By Marine Strauss and Kate Abnett

BRUSSELS (Reuters) - The European Commission should set a date to ban sales of new petrol and diesel cars across the European Union to align the transport sector with climate goals, nine member countries said on Wednesday.

Led by Denmark and the Netherlands, the countries have written to the European Commission, the bloc's executive, calling for ambitious EU policies to tackle the quarter of EU greenhouse gases that come from transport.

This must include a phase-out date for the sale of new petrol and diesel cars and vans in the EU, to support the shift to zero-emission vehicles, the countries said.

"We have to accelerate the green transition of road transport and as legislators send clear signals to car manufacturers and consumers across the EU," said Danish climate minister Dan Jorgensen.

The other countries joining the push were Austria, Belgium, Greece, Ireland, Lithuania, Luxembourg and Malta.

The European Commission will propose tougher CO2 standards for new cars in Europe as part of a package of policies in June aimed at delivering its goal to cut net EU greenhouse gas emissions at least 55% by 2030, from 1990 levels, and steer the bloc towards climate neutrality by 2050.

The current CO2 standards need a "significant strengthening", and the EU must also bolster charging and refuelling infrastructure for zero-emission vehicles, the countries said.

EU legislation should also be amended to allow countries to take national action to phase out new petrol and diesel cars, they said.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Many carmakers have already laid out a timetable to switch to all-electric car line-ups. Within the last month, Swedish carmaker Volvo said it would become fully electric by 2030, and Ford Motor (NYSE:F) Co said all its cars sold in Europe would be electric by the same date.

The UK government has pledged to ban sales of new petrol and diesel cars and vans in 2030.

Sales of electric and plug-in hybrid cars in the EU almost trebled to over 1 million vehicles in 2020, accounting for more than 10% of overall sales.

Latest comments

of course  Austria, Belgium want it. they're going to make the most money from it.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.