Volkswagen executive calls on EU to ease CO2 reduction targets [Yahoo! Finance]
PORSCHE AUTOMBL UNSP/ADR (POAHY)
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Source: Yahoo! Finance
"We know today that the demand for electric cars in Europe is falling far short of expectations," said Hans Dieter Pötsch, according to a manuscript of his speech at the Vienna Electric Days gathering. "Electromobility will prevail, but it will take more time. That is why the CO2 targets for 2025, 2030 and 2035 need to be adjusted and adapted to reality," he said. His comments refer to the EU's phased plan to reduce the amount of CO2 emitted by new cars. The fleet-wide targets for individual manufacturers, which are to be achieved on average for all new cars, are set to fall by 15% in 2025. But industry representatives say this will only be possible with more electric cars, which will help reduce the average. If carmakers miss their targets, they risk having to pay significant fines. Pötsch, who is also chairman of the board of Porsche Automobil Holding, said politicians "have set targets for the industry without the necessary infrastructure being in place and without thinkin
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POAHY
Analyst Actions
- 8/20/24 - Sanford C. Bernstein
POAHY
Sec Filings
- 9/26/24 - Form F-6EF
- POAHY's page on the SEC website