EU ban on CO2 cars is 'self-destructive', Italy's Meloni says
Adds context in paragraphs 4-5, Italian position in paragraph 5
ROME, Sept 18 (Reuters) -Italian Prime Minister Giorgia Meloni said on Wednesday the European Union's 2035 target to end the sale of carbon-dioxide (CO2) emitting cars shows a "self-destructive" position on industrial and environmental issues.
"The ban on endothermic engine (cars) from 2035 is one of the most obvious examples of a self-destructive approach," Meloni told an event in Rome.
"Accompanying the industrial sector in the challenge of ecological transition cannot mean dismantling entire sectors," she said.
In March 2023, EU countries approved a landmark law that will require all new cars to have zero CO2 emissions from 2035, effectively banning diesel and petrol vehicles, and 55% lower CO2 emissions from 2030, compared to 2021 levels.
The EU measure was meant to speed up the electrification of the auto industry, but several automakers have recently started to scale down their electric vehicle (EV) roll-out plans due to poor demand.
Meloni and her allies have always opposed the ban on internal combustion engines, but at the time of the EU decision, her government abstained on it along with Bulgaria and Romania, while Poland was the only country to vote against.
Reporting by Angelo Amante, Giuseppe Fonte, Marta Didonfrancesco and Alberto Chiumento, editing by Gavin Jones and Tomasz Janowski
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
