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automakers","opinion-moment-of-truth-for-european-automakers","article/opinion-moment-of-truth-for-european-automakers",{"_uid":547,"date":548,"tags":549,"editor":553,"content":563,"excerpt":813,"featured":51,"reporter":814,"_editable":818,"component":819,"seo_title":543,"categories":820,"visibility":824,"author_company":49,"featured_image":825,"seo_description":813,"author_full_name":49,"author_job_title":49,"formattedDate":829,"formattedArticleDate":830},"c10577fe-5a31-4809-8bde-f23b82baff73","2025-01-30 00:00",[550],{"slug":551,"name":552},"opinion","Opinion",[554],{"slug":555,"name":556,"content":557},"matthew-bird","Matthew Bird",{"job_title":558,"image":559,"bio":561,"linkedin":562},"Senior Editor - Supply Chains & Data Visualisation",{"filename":560},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":564,"content":565},"doc",[566,583,588,593,598,603,608,621,630,637,642,647,667,672,683,693,698,703,716,721,726,731,736,741,746,753,758,763,768,773,778,783,788,793,802,810],{"type":567,"attrs":568,"content":569},"paragraph",{"textAlign":49},[570,573,581],{"text":571,"type":572},"European automakers face the prospect of ","text",{"text":574,"type":572,"marks":575},"billions of euros in fines",[576],{"type":577,"attrs":578},"link",{"href":579,"uuid":49,"anchor":49,"target":49,"linktype":580},"https://source.benchmarkminerals.com/downloads/special-issues","url",{"text":582,"type":572}," this year as European Union emissions targets come into effect. ",{"type":567,"attrs":584,"content":585},{"textAlign":49},[586],{"text":587,"type":572},"As Iola Hughes, head of research at Rho Motion, says: “car manufacturer bosses in the EU will be experiencing some sleepless nights in 2025.”",{"type":567,"attrs":589,"content":590},{"textAlign":49},[591],{"text":592,"type":572},"France, Italy and other countries have called for the EU to relax its emissions legislation, which fines automakers for exceeding average fleet-wide CO2/km targets, saying it will only hurt the European automotive industry. ",{"type":567,"attrs":594,"content":595},{"textAlign":49},[596],{"text":597,"type":572},"That would be a mistake. With President Donald Trump planning to scrap subsidies and support for electric vehicles, Europe faces a unique opportunity to benefit from the shift to electric cars. ",{"type":567,"attrs":599,"content":600},{"textAlign":49},[601],{"text":602,"type":572},"The EU must stick to its guns this year, providing the first real test to European automakers in the electrification transition. ",{"type":567,"attrs":604,"content":605},{"textAlign":49},[606],{"text":607,"type":572},"To reduce or remove targets this year show automakers they can proceed at their own pace going forwards and ultimately not face consequences for failing to decarbonise. It would also be grossly unfair to automakers who have made a larger sacrifice up to now in order to be in a position to meet the targets.",{"type":567,"attrs":609,"content":610},{"textAlign":49},[611,613,619],{"text":612,"type":572},"Yet the EU could ease the burden on automakers by restructuring how the fines are made. It could also reconsider its rules on ",{"text":614,"type":572,"marks":615},"plug-in hybrid vehicles",[616],{"type":577,"attrs":617},{"href":618,"uuid":49,"anchor":49,"target":49,"linktype":580},"https://source.benchmarkminerals.com/article/opinion-2024-was-the-year-of-the-plug-in-hybrid",{"text":620,"type":572},", making it easier for them to contribute to the targets – especially range-extender vehicles.",{"type":567,"attrs":622,"content":623},{"textAlign":49},[624],{"type":625,"attrs":626},"image",{"id":49,"alt":627,"src":628,"title":49,"source":49,"copyright":49,"meta_data":629},"","https://a.storyblok.com/f/287943243085208/525b441870/bm-2025-ev-sales-growth-rates1-1332048dd396.png",{},{"type":631,"attrs":632,"content":634},"heading",{"level":633,"textAlign":49},4,[635],{"text":636,"type":572},"Lagging EV sales ",{"type":567,"attrs":638,"content":639},{"textAlign":49},[640],{"text":641,"type":572},"From 2025, overall fleet emissions must reach 93.6 grams of CO2 per kilometre travelled, down from 106.6 grams in 2023. Automakers face fines equivalent to 95 euros per gram of CO2 per vehicle exceeding the limit. ",{"type":567,"attrs":643,"content":644},{"textAlign":49},[645],{"text":646,"type":572},"Each automaker has specific targets relative to the average mass of vehicles it registers. They can also pool with other automakers to improve their compliance. ",{"type":567,"attrs":648,"content":649},{"textAlign":49},[650,652,657,659,665],{"text":651,"type":572},"Analysis by ",{"text":653,"type":572,"marks":654},"Rho Motion",[655],{"type":577,"attrs":656},{"href":579,"uuid":49,"anchor":49,"target":49,"linktype":580},{"text":658,"type":572}," shows that Volvo, Tesla, Polestar, and China’s SAIC are the only automakers likely to meet targets on their own, without pooling with other automakers. (You can follow Rho Motion’s live tracker on emissions fines ",{"text":660,"type":572,"marks":661},"here",[662],{"type":577,"attrs":663},{"href":664,"uuid":49,"anchor":49,"target":49,"linktype":580},"https://rhomotion.com/rho-motions-eu-2025-vehicle-emissions-tracker/",{"text":666,"type":572},".) ",{"type":567,"attrs":668,"content":669},{"textAlign":49},[670],{"text":671,"type":572},"European automakers have been slow to capitalise on the transition, and develop lower-priced models that appeal to consumers. They have watched as Chinese electric vehicle companies such as BYD have introduced battery innovations that lower the cost of production, or range-extender vehicles that add small motors to electric vehicles to boost the range. ",{"type":567,"attrs":673,"content":674},{"textAlign":49},[675,677,681],{"text":676,"type":572},"In China, sales of ",{"text":614,"type":572,"marks":678},[679],{"type":577,"attrs":680},{"href":618,"uuid":49,"anchor":49,"target":49,"linktype":580},{"text":682,"type":572}," soared last year, as they cater to a segment of consumers who are still conscious of driving range. But in Europe, they have failed to appeal. ",{"type":567,"attrs":684,"content":685},{"textAlign":49},[686,688],{"text":687,"type":572},"Last year, sales of electric vehicles in Europe fell by 3% compared to a year earlier. As a result carmakers still risk around 10 billion euros in fines, according to Benchmark’s ",{"text":689,"type":572,"marks":690},"special report on the legislation published this week. ",[691],{"type":577,"attrs":692},{"href":579,"uuid":49,"anchor":49,"target":49,"linktype":580},{"type":567,"attrs":694,"content":695},{"textAlign":49},[696],{"text":697,"type":572},"But re-writing the emissions rules now would only serve to set back this momentum. It would have risks and knock-on effects on the whole EV supply chain, including on battery plants and midstream and upstream projects, as EVs are a key demand driver. That would further set back the broader goals of the EU to de-risk from China. ",{"type":567,"attrs":699,"content":700},{"textAlign":49},[701],{"text":702,"type":572},"Investors are already reluctant to back new projects in the supply chain due to uncertainty around demand. ",{"type":567,"attrs":704,"content":705},{"textAlign":49},[706,708,714],{"text":707,"type":572},"As the European Commission’s",{"text":709,"type":572,"marks":710}," Competitiveness Compass",[711],{"type":577,"attrs":712},{"href":713,"uuid":49,"anchor":49,"target":49,"linktype":580},"https://commission.europa.eu/document/download/10017eb1-4722-4333-add2-e0ed18105a34_en",{"text":715,"type":572}," report says:  “The CO2 standards provide long-term certainty to channel the necessary investments.”",{"type":631,"attrs":717,"content":718},{"level":633,"textAlign":49},[719],{"text":720,"type":572},"Brighter outlook?",{"type":567,"attrs":722,"content":723},{"textAlign":49},[724],{"text":725,"type":572},"The EV market might also improve this year, as more models below EUR25,000 reach consumers, and interest rates start to fall, making car leasing more affordable. The European Central Bank is set to further reduce rates this week. ",{"type":567,"attrs":727,"content":728},{"textAlign":49},[729],{"text":730,"type":572},"Sales are expected to rise by 15% this year compared to 2024 or by 13% compared to 2023, the last year to see growth in the market, according to Rho Motion. ",{"type":567,"attrs":732,"content":733},{"textAlign":49},[734],{"text":735,"type":572},"While Chinese electric vehicles are undoubtedly providing competition, the tariffs imposed by the EU have gone some way to level the playing field. ",{"type":567,"attrs":737,"content":738},{"textAlign":49},[739],{"text":740,"type":572},"The focus should be on supporting climate/emission targets through additional consumer and corporate support and a holistic industrial plan focusing on next-gen technologies to help the EU car manufacturing industry bridge the EV competitiveness gap with China, rather than weakening the targets.",{"type":567,"attrs":742,"content":743},{"textAlign":49},[744],{"text":745,"type":572},"This could include further support for innovation in plug-in hybrid electric vehicles, especially range-extender vehicles, which could help consumers bridge the gap to full electric vehicles. These vehicles use internal combustion engine motors only to re-charge the onboard battery, rather than power the car. ",{"type":567,"attrs":747,"content":748},{"textAlign":49},[749],{"type":625,"attrs":750},{"id":49,"alt":627,"src":751,"title":49,"source":49,"copyright":49,"meta_data":752},"https://a.storyblok.com/f/287943243085208/4ec2468865/bm-forecast-2025-global-ev-sales1-1332047ce4ad.png",{},{"type":631,"attrs":754,"content":755},{"level":633,"textAlign":49},[756],{"text":757,"type":572},"Easing the burden",{"type":567,"attrs":759,"content":760},{"textAlign":49},[761],{"text":762,"type":572},"However, it would not be unreasonable for the EU Commission to consider what a fair maximum level of punishment is. ",{"type":567,"attrs":764,"content":765},{"textAlign":49},[766],{"text":767,"type":572},"Larger manufacturers where fines could run into the multi-billion euros may have a point to feel disproportionately hit. ",{"type":567,"attrs":769,"content":770},{"textAlign":49},[771],{"text":772,"type":572},"Mechanisms could be built in whereby a proportion of fines paid are returned if targets are then met in 2026 and beyond. ",{"type":567,"attrs":774,"content":775},{"textAlign":49},[776],{"text":777,"type":572},"This could even be targeted with stipulations that the money is used to further decarbonisation efforts. Alternatively funds are set aside specifically to aid electrification across the bloc either through support for supply chain projects or direct consumer support. ",{"type":567,"attrs":779,"content":780},{"textAlign":49},[781],{"text":782,"type":572},"Such mechanisms would mean fines are not ‘wasted’ or spent elsewhere without providing kickback benefits to the overall goal.",{"type":567,"attrs":784,"content":785},{"textAlign":49},[786],{"text":787,"type":572},"The EU Commission should use the money responsively to benefit its decarbonisation goals. ",{"type":567,"attrs":789,"content":790},{"textAlign":49},[791],{"text":792,"type":572},"But letting carmakers off the hook now will only slow down progress, setting back Europe’s goals to lead the global economy and regain its competitiveness.",{"type":567,"attrs":794,"content":795},{"textAlign":49},[796],{"text":797,"type":572,"marks":798},"Source@benchmarkminerals.com",[799],{"type":577,"attrs":800},{"href":801,"uuid":49,"anchor":49,"target":49,"linktype":580},"mailto:Source@benchmarkminerals.com",{"type":567,"attrs":803,"content":804},{"textAlign":49},[805],{"text":806,"type":572,"marks":807},"This article is part of Benchmark Source’s new weekly opinion column. Read more below:",[808],{"type":809},"italic",{"type":567,"attrs":811,"content":812},{"textAlign":49},[],"European automakers face the prospect of billions of euros in fines this year as European Union emissions targets come into effect. As Iola Hughes, head of research at Rho Motion, says: “car manufacturer bosses in the EU will be experiencing some sleepless nights in 2025.” France, Italy and other countries have called for the EU […]",[815],{"slug":555,"name":556,"content":816},{"job_title":558,"image":817,"bio":561,"linkedin":562},{"filename":560},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"c10577fe-5a31-4809-8bde-f23b82baff73\", \"id\": \"\"}-->","article",[821],{"slug":822,"name":823},"ev","EV","public",{"id":49,"alt":627,"name":627,"focus":627,"title":627,"source":627,"filename":826,"copyright":627,"fieldtype":827,"meta_data":828,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/f462a5bbcf/bm-european-union.jpg","asset",{"alt":627,"title":627,"source":627,"copyright":627},"Jan 30, 2025","30th January 2025",[],[],{"id":834,"uuid":835,"name":836,"slug":837,"full_slug":837,"content":838,"relatedArticles":842,"relatedVideos":843},120886048076734,"4b6fbcc0-7881-4fbb-92ee-06d1ed3f3cec","⚙️ Settings","settings",{"_uid":839,"component":837,"black_listed_email_domains":840,"_editable":841,"formattedDate":627,"formattedArticleDate":627},"8dcafbcc-28de-4388-a68e-6b41e24f31bb","direkt.se\nstreetwisereports.com\nalpha-sense.com\nafrica-energy.com\ntcs.com\nmm-markets.com\nsmr-premium.com\nsci99.com\nlondoncib.com\nyeb.com.br\nnewautomotive.org\nsina.com.cn\ngwstrategies.net\noliverwyman.com\ndazeinfo.com\ndataintelo.com\ninfyos.com\nevalueserve.com\ninsightwoo.com\ncrescendoanalytic.com\nipaglobal.com\nweare121.com\nzemek.com\nryancommodityinsights.com\nonyxsi.com\ncostmine.com\nnickhatchmining.com\naethoslabs.com\nmysteel.com\nbuzblox.com\nfutureproofconsulting.com.au\ncmgroup.net\noptelgroup.com\nberylls.com\nreputex.com\nnumber-three.net\nrobertdallison.com\nwsp.com\nafriforesight.com\npaydirt.com.au\nmetal.com\ninforma.com\nfelixstrategy.com\ncrisil.com\nantaike.com\nbatterymaterialsreview.com\nsrk.com\nglobaltrustgrp.com\nnapiermeridian.com\nprojectblue.com\nplutonic-rma.com\nrosaearth.io\ndrivesustainability.org\nminehub.com\nscsglobalservices.com\nLynxglobalintelligence.com\nsphera.com\nminespider.com\nc-resource.com\ntdi-sustainability.com\nkumi.consulting\nsc-insights.com\nkallanish.com\naboutenergy.co.uk\nenant.io\nopisnet.com\nacuitycommodities.com\nevinfocus.com\nsfa-oxford.com\ncrugroup.com\nwoodmac.com\nspglobal.com\nrolandberger.com\nrcsglobal.com\nnornik.ru\nlivista.energy\nihsmarkit.com\ncapitalightresearch.com\namegroup.com\ncapitalight.co\nsustainablelabs.io\ncommoditiesanalysis.co.uk\navicenne.com\nkearney.com\nnornickel.net\n5napier.com\nvoltility.net\ngf.com.cn\nhindenburgresearch.com\ndigbee.com\nadamasintel.com\nac-harvard.com\nsneresearch.com\ninventusbioenergy.com\nproactiveinvestors.com\nauroraer.com\nresourceworld.com\nbatteryline.com\norennia.com\nfastmarkets.com\nmsci.com\nbcg.com\nklinegroup.com\ndelta-ee.com\nskarnassociates.com\nricardo.com\ncleanhorizon.com\np3-group.com\naccenture.com\nporsche-consulting.com\numlaut.com\nadi-analytics.com\ncpmgroup.com\nilimarkets.com\nminviro.com\nmckinsey.com\ncicenergigune.com\ne4tech.com\nargusmedia.com\ndolbear.com\nerm.com\nlithium.org\nradiusq.com\ndigivla.com\njeri.co.jp\ntopology.com.tw\nsaurenergy.com\novaladvisory.com\ngsixenergy.com","\u003C!--#storyblok#{\"name\": \"settings\", \"space\": \"287943243085208\", \"uid\": \"8dcafbcc-28de-4388-a68e-6b41e24f31bb\", \"id\": \"120886048076734\"}-->",[],[],1784107179797]