EU Softens 2035 EV Goals, Sparking Concern Among Electric Startups
However, the European Commission’s revised plan has softened its ambitious goal to ban gas-powered cars by 2035.
The new policy would allow 10% of new car sales to be hybrids or other vehicles as long as manufacturers purchase carbon offsets.
This change is part of a broader “Automotive Package” designed to help the European car industry become clean and competitive.
Industry Split on Timeline
Meanwhile, opinions differ within the auto industry, with Volvo expressing concerns about the potential impact on Europe’s competitiveness.
Unlike Mercedes-Benz, Volvo had no concerns about meeting the 2035 ban and would have preferred increased investment in expanding charging infrastructure.
However, the Commission’s “Battery Booster” initiative, which invests €1.8 billion into developing a fully European-made battery supply chain, received positive feedback from Verkor, a French battery startup.
Mixed Signals
However, many question whether the Battery Booster is enough to offset what they see as negative signaling about the EU’s commitment to using decarbonization as an economic growth driver.
Already, traditional carmakers have begun complaining that the carbon offset requirements could make cars more expensive for consumers.
Another uncertainty involves the United Kingdom, which is unclear whether it will follow the EU’s lead and modify its own 2035 combustion engine ban.
Debate Highlights Tensions in Climate Policy
Consequently, the debate highlights ongoing tensions in climate policy between balancing economic realities and the urgency of transitioning to cleaner tech.
In addition, the decisions made now will impact whether Europe leads or lags in the global EV market.
Therefore, the European Commission’s revised plan has sparked debate within the startup community and beyond about the best path for Europe if it’s to remain competitive during the energy transition.
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