PSA, Volvo among brands seen avoiding EU CO2 fines on EV push

PSA Group and Volvo Cars, along with BMW Group and Renault Group are among the automakers on track to meet European Union emissions rules after sales of battery-powered vehicles tripled during the first half, according to a study.

The surge in electric vehicle sales helped cut average CO2 emissions of new cars registered in Europe by 9 percent to 111 grams per km, the steepest drop in more than a decade, according to a report by green pressure group Transport & Environment.

"Electric car sales are booming thanks to EU emissions standards," Julia Poliscanova, a senior director at the Brussels-based organization, said in a statement. "Next year, one in every seven cars sold in Europe will be a plug-in.”