Italy Warns European Car Industry May Collapse Unless EU...
Sept 10, 2024 18:59:27 GMT -5
Post by Midnight on Sept 10, 2024 18:59:27 GMT -5
Italy Warns European Car Industry May Collapse Unless EU Reviews Its 2035 Petrol Car Ban
by Paul Serran
Sep. 10, 2024 2:20 pm
The Italian government led by Prime Minister Giorgia Meloni walks a fine line between Globalism and its conservative DNA.
But every now and then the Italians break rank with the wider European thought to take a more principled stand, as it appear to be the vase now.
It arises that Italy has now called for a review of the European Union’s 2035 petrol car ban, amid fears it risked triggering the industry’s ‘collapse’.
This comes as it appears the EV fad has faded, and buyers are starting to reject electric vehicles ‘en masse’.
Telegraph reported:
“Ministers from Giorgia Meloni’s government claimed the “absurd” policy was ideologically driven and required change to reflect the realities of the market. There has been growing unease across the Continent about a slowdown in demand for electric vehicles (EVs).”
Besides this trend, there’s also widespread concern that Europe’s car industry may be falling behind manufacturers in China and the US.
Just last week, industry leader Volkswagen warned it may close factories in Germany for the first time.
The car giant suffers from high energy prices.
This has led many to call for ‘a rethink’ of EU ‘green’ climate goals which ended up enacting a ban on internal combustion engine cars by 2035.
“Gilberto Pichetto Fratin, the Italian energy minister, told Bloomberg: ‘The ban must be changed’.
Adolfo Urso, the industry minister, added: ‘In an uncertain landscape, which is affecting the German automotive industry, clarity is needed to not let the European industry collapse. Europe needs a pragmatic vision, the ideological vision has failed. We need to acknowledge that’.”
Urso has called for the conversion targets to be reviewed early by the European Commission.
All the while, Italy is saying that it is not opposed to EVs, but the country argues that the ‘transition to clean energy’ should also involve other technologies.
“Meanwhile, Volkswagen – Germany’s largest industrial employer and Europe’s top carmaker by revenue – has been hammered by rising power prices after the loss of cheap Russian gas in the wake of the invasion of Ukraine. The company has also been struggling with its push into electric cars.
Sales of EVs stalled in the first half of the year and the company delayed the US launch of its latest electric sedans indefinitely.”
This all happens in the context of a worsening outlook for Germany’s economy, with its manufacturing sector suffering greatly.
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by Paul Serran
Sep. 10, 2024 2:20 pm
The Italian government led by Prime Minister Giorgia Meloni walks a fine line between Globalism and its conservative DNA.
But every now and then the Italians break rank with the wider European thought to take a more principled stand, as it appear to be the vase now.
It arises that Italy has now called for a review of the European Union’s 2035 petrol car ban, amid fears it risked triggering the industry’s ‘collapse’.
This comes as it appears the EV fad has faded, and buyers are starting to reject electric vehicles ‘en masse’.
Telegraph reported:
“Ministers from Giorgia Meloni’s government claimed the “absurd” policy was ideologically driven and required change to reflect the realities of the market. There has been growing unease across the Continent about a slowdown in demand for electric vehicles (EVs).”
Besides this trend, there’s also widespread concern that Europe’s car industry may be falling behind manufacturers in China and the US.
Just last week, industry leader Volkswagen warned it may close factories in Germany for the first time.
The car giant suffers from high energy prices.
This has led many to call for ‘a rethink’ of EU ‘green’ climate goals which ended up enacting a ban on internal combustion engine cars by 2035.
“Gilberto Pichetto Fratin, the Italian energy minister, told Bloomberg: ‘The ban must be changed’.
Adolfo Urso, the industry minister, added: ‘In an uncertain landscape, which is affecting the German automotive industry, clarity is needed to not let the European industry collapse. Europe needs a pragmatic vision, the ideological vision has failed. We need to acknowledge that’.”
Urso has called for the conversion targets to be reviewed early by the European Commission.
All the while, Italy is saying that it is not opposed to EVs, but the country argues that the ‘transition to clean energy’ should also involve other technologies.
“Meanwhile, Volkswagen – Germany’s largest industrial employer and Europe’s top carmaker by revenue – has been hammered by rising power prices after the loss of cheap Russian gas in the wake of the invasion of Ukraine. The company has also been struggling with its push into electric cars.
Sales of EVs stalled in the first half of the year and the company delayed the US launch of its latest electric sedans indefinitely.”
This all happens in the context of a worsening outlook for Germany’s economy, with its manufacturing sector suffering greatly.
link
