Energy Markets
EU to relax CO2 emission targets for automakers
The European Commission published a proposal on Tuesday to relax the rules. This will give automakers three years to meet the EU CO2 emission targets of 2025 for cars and vans. The European automakers had requested Brussels to ease the targets. These depend on selling more electrical vehicles, an area where they are behind their Chinese and U.S. competitors. According to the changes proposed on Tuesday, compliance with CO2 regulations for 2025 would be based on the average emissions of a carmaker over the period from 2025-2027 rather than only this year. In a press release, Ursula von der Leyen,...