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EU Weights Carbon Credits Rather than Sales Quotas for EVs
The European Commission will present a proposal next month to promote electric cars through a credit trading scheme rather than direct EV sales quotas, sources tell Reuters.
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The European Commission will present a proposal next month to promote electric cars through a credit trading scheme rather than direct EV sales quotas, sources tell Reuters.
The proposed credit swap would enable carmakers to meet pollution standards with piston-powered vehicles by buying emission credits from EV producers.
The EC plan also would establish new carbon dioxide emission limits for 2030, establish €800 million ($945 million) in regional funding to develop a better EV charging infrastructure and contribute €200 million ($236 million) to advanced-battery research.
Reuters says the proposal would require passenger car fleets to reduce CO2 emissions by an average 25%-35% by 2030 compared with 1990 levels. Vans would be required to cut CO2 by 30%-40%. Carmakers in Europe have been advocating a 20% reduction, and they want to make compliance conditional on consumer demand for zero-emission EVs.
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