Volkswagen and FiatChrysler could face penalties of up to 1.83 billion euros ($2...
FRANKFURT - Volkswagen and FiatChrysler could face penalties of up to 1.83 billion euros and 746 million euros respectively, if they fail to meet the European Union’s emissions targets set for 2021, according to AlixPartners.The study by the consulting firm, which was published on Wednesday, shows how hard it is for carmakers to meet European rules for cutting average fleet emissions for passenger cars to 95 grams of carbon dioxide per kilometer by 2021.
Volkswagen said it plans to comply with the European rules while FiatChrysler has said it will pursue the cheapest option for complying with the rules, a step which may include paying fines. Volkswagen Group, faces the biggest fine because it is Europe’s biggest carmaker by market share. To meet European Union emissions rules it plans to mass produce electric cars in 2020.
“Customers are switching to petrol and this needs to be compensated with electrification and or hybridization.”
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