Automakers Face €15 Billion in Emissions Fines: What You Need to Know

Introduction

Automakers across Europe are facing a daunting challenge: complying with stringent EU emissions regulations or facing hefty fines that could total €15 billion. This warning comes directly from the CEO of Renault, who stressed the urgency for the automotive industry to adapt swiftly to avoid these penalties. This article will explore the implications of these potential fines and what it means for vehicle owners and the auto industry at large.

Understanding the EU Emissions Regulations

The European Union has implemented strict emissions regulations aimed at reducing the environmental impact of vehicles. These regulations set limits on the amount of CO2 that cars can emit per kilometer. Automakers are required to ensure their fleet-wide emissions do not exceed specified limits.

• CO2 Emission Standards: The EU’s 2021 target is to limit average CO2 emissions to 95 grams per kilometer for new cars. This target will tighten further in the coming years.
• Penalties for Non-Compliance: If an automaker exceeds these limits, they face a fine of €95 for each gram per kilometer over the limit, multiplied by the number of cars

Credits:https://europe.autonews.com/environmentemissions/automakers-risk-eu15-billion-eu-emissions-fines-renault-ceo-says