Paris motor show reveals the problems with Europe's EV market [Yahoo! Finance]
RENAULT SA UNSP/ADR (RNLSY)
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Source: Yahoo! Finance
And far from a wonderful new world of low-carbon transport as predicted by EU policymakers and UK governments, if anything, the reverse seems to be happening. Battery electric car sales were down one third over the same period. With car makers reporting a deeper downturn than expected and predicting it will be longer-lasting, business leaders are saying that EU policy makers are ill-prepared for precisely how expensive the transition to a low-carbon economy is going to be. The UK is in the vanguard of that high-cost transition as the Zero Emission Vehicle (ZEV) mandate forces producers of cars and vans to sell EVs as a rising proportion of their total sales, or pay fines amounting to £15,000 per car over the mandate, which starts at 22 per cent this year and rising to 80 per cent by 2030. In response, this year's market is being shored up by what the UK's Society of Motor Manufacturers and Traders (SMMT) called “unprecedented EV discounting”. How unprecedented? The SMMT recko
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