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March 28, 2019 05:30 AM

EU toughens CO2 limits for cars in boost for electric vehicles

Bloomberg
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    The 2030 goal will accelerate automakers' plans to launch full-electric cars, which have zero tailpipe emissions.

    The European Union's plan to cut CO2 emissions from new cars by 37.5 percent by 2030 was approved European Parliament, removing the final political hurdle for the target.

    In a vote on Wednesday in Strasbourg, France, the assembly also fixed an interim CO2-cut goal for autos of 15 percent for 2025.

    EU governments had already signaled support for the new CO2 limits after striking a deal in December with the 751-seat Parliament, making final approval a formality. Auto industry groups warned then that the target would threaten automotive jobs and consumer choice.

    The new emission curbs are meant to step up the European fight against climate change. About 15 million autos are sold each year in the EU, with cars accounting for more than a tenth of the bloc’s releases of CO2, the main greenhouse gas blamed for rising global temperatures.

    The 2030 goal will accelerate automakers' plans to launch full-electric cars, which have zero tailpipe emissions. Electric vehicles in Europe have a market share of around 1.5 percent.

    The EU’s current average caps on CO2 from cars are 130 grams per km set for 2015 and 95g/km fixed for 2021.

    The 2030 target calls for a 37.5 percent CO2-reduction target for 2030 compared with the 2021 limit.

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