EU Proposals to Weaken Car CO2 Targets Threaten EV Investment and Jobs
A recent study highlights the potential industrial opportunity costs associated with the European Union's proposed revisions to car CO2 targets for 2030-2035. The EU is considering weakening these targets, which could significantly impact the electric vehicle (EV) market. The study, conducted by Transport & Environment (T&E), examines three scenarios: the current CO2 regulation, the new Commission proposal, and the auto industry's position. The findings suggest that adopting the auto industry's amendments could halve the projected battery electric vehicle (BEV) production by 2030, reducing it from 7.4 million to 3.7 million units. Additionally, the amendments could result in the loss of over 34 Northvolt-sized battery factories and up to 47,000 jobs. The study emphasizes the importance of maintaining strong car CO2 targets and industrial policies to ensure the growth of the EV market and local manufacturing base. 
