Under stricter European Union regulations taking effect this year, automakers selling cars in Europe face large penalties if their vehicle production fails to meet targets for reducing carbon emissions, but, with the demand for EVs in Europe slumping, many are lobbying for relief, Liz Alderman and Melissa Eddy of The New York Times reports. Under the current rules, carmakers can meet their targets by increasing the number of zero–emission cars they produce or reducing their output of vehicles with combustion engines. The alternative way would be to buy emission credits by “pooling” with companies that make only electric cars and have an abundance. This has led European carmakers to turn to rivals such as Tesla (TSLA) and Geely (GELYF) of China.
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