. | . |
VW set to miss EU emissions targets: CEO by Staff Writers Frankfurt Am Main (AFP) Dec 4, 2020 German auto giant Volkswagen is unlikely to meet EU emissions targets until 2022, its chief executive said Friday, which could result in hefty fines. In an interview with German business weekly WirtschaftsWoche, Herbert Diess said the VW group was working "flat out to get as close as possible" to selling enough environmentally friendly vehicles to reach the bloc's climate targets. "Next year it will be easier, and from 2022 we shouldn't have any more problems achieving the fleet targets," he said. Under new European Union legislation that came into force this year, manufacturers' fleets of newly-sold cars must emit on average less than 95 grammes of CO2 per kilometre, on pain of fines from 2021. To meet the goal, carmakers across the industry must massively increase their sales of electric and hybrid cars. If they fall short of the carbon targets, carmakers risk fines that could run into hundreds of millions of euros (dollars). Diess said the VW group -- which includes the Audi, Porsche, Skoda and Seat brands -- "started relatively late" to convert its conventional fleet to lower-emissions vehicles, despite knowing that the targets were looming. But he warned against a further tightening of green regulation, saying that VW's pivot to electric could not be sped up much before 2025, "because there are not enough batteries". Last month, Diess told the Financial Times that VW would be within "a gramme or so" of complying with the EU's tough new pollution limits. The company has pledged to invest more than 35 billion euros ($42.6 billion) in developing battery-electric vehicles over the next five years. The environmental challenge comes at a difficult time for the CEO of one of the world's largest carmakers, who is looking to extend his contract amid a reported boardroom power struggle. Diess hopes to install his choices for chief financial officer and chief purchasing officer, but faces opposition from powerful works council leader Bernd Osterloh. "My contract runs until 2023. And I plan to fulfil this contract," Diess said, confirming that the situation was "not easy" and the next few months would be "crucial". German rival Daimler said in October that it was within "striking distance" of the EU emissions targets, while BMW has said it expects to meet them. edf/mfp/wai
GM won't take stake in electric-truck startup Nikola New York (AFP) Nov 30, 2020 General Motors terminated a transaction to take a stake in Nikola, but reached a preliminary agreement to supply its technology to the electric-truck startup, the companies said Monday. Shares of Nikola plunged following the announcement, losing around one-fourth of their value. Under a revised agreement, GM reached a non-binding memorandum of understanding to supply GM's fuel cell technology to Nikola trucks. The pared-down deal also mentions a "potential supply agreement" whereby GM's Ultium b ... read more
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |