Germany's Scholz condemns EU penalties for car makers over emissions targets
- Chancellor Olaf Scholz criticized the EU's 15% emissions cut requirement for new vehicles by 2025.
- Car manufacturers face severe penalties for not complying with the regulations.
- Scholz emphasizes the need for economic stability within the automotive industry amid the push for electric vehicles.
Germany's Chancellor Olaf Scholz has expressed strong opposition to the European Union's plans aimed at reducing emissions from new cars and vans. These plans require manufacturers to cut emissions by 15 percent compared to 2021 levels by next year, escalating to a 55 percent reduction for cars and 50 percent for vans by 2030. Automakers are reportedly struggling to meet these targets due to what they describe as a lack of consumer demand for electric vehicles. Consequently, they warn that strict penalties for failing to meet quotas could jeopardize jobs and cause significant harm to the automotive industry. Scholz highlighted the need for companies to retain funds for modernization, reflecting on the broader economic implications of these regulations. Meanwhile, various companies, including Ford and Nissan, have announced job cuts and scaled back production due to these compliance pressures, further emphasizing the industry's apprehensive stance towards governmental mandates. The situation beckons a critical examination of the balance between environmental policies and economic stability within the automotive sector.