The European Union and Britain need to take urgent action to postpone rules for electric vehicles traded between the bloc and the UK that will trigger 10% tariffs, Europe's car industry group said on Monday. "Driving up consumer prices of European electric vehicles, at the very time when we need to fight for market share in the face of fierce international competition, is not the right move," European Automobile Manufacturers' Association (ACEA) president and Renault CEO Luca de Meo said in a statement ahead of a planned trade meeting between EU and UK officials this week.
Volkswagen SA is pulling back from the lucrative European market as a result of SA falling too far behind in its transition to electric vehicles, though the Nelson Mandela Bay-based auto giant is gearing up to manufacture a state-of-the-art new-energy vehicle at its Kariega plant.
Italy, Portugal, Slovakia, Bulgaria and Romania want to delay a European Union plan to effectively ban the sale of new petrol and diesel cars from 2035 by five years, according to a document seen by Reuters.
EU passenger car market bounced backed in March aa.com.tr - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aa.com.tr Daily Mail and Mail on Sunday newspapers.
European new car sales drop by 20% year-on-year in February: ACEA yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.