Auto Makers Call for More Time to Shift to EVs

As Europe approaches the approval of a legal ban on the sale of new internal combustion engine vehicles, automakers are demanding more time to switch to electric vehicles.

On Wednesday, a member of the European Parliament approved plans to reduce greenhouse gas emissions, including a proposal to ban the sale of new cars with traditional engines after 2035.

With millions of jobs dependent on the auto industry in the European Union, executives warn that moving too fast can have a particularly big impact on auto parts suppliers. They said switching too fast could lead to major unemployment when the global economy is already tight.

The automobile industry is under great pressure due to the ongoing shortage of semiconductors, rising fuel, and raw material prices, and the disruption of the supply chain due to the war in Ukraine.

Despite the momentum for EVs, industry leaders say the future is still uncertain and have called on the EU to accompany its plan with financing for building charging infrastructure and securing raw materials.