Regulation & Safety

Automakers could face billions in fines for missing 2025 emissions target, Renault CEO says

Renault CEO Luca de Meo Arc 2024 — "The speed of the electric ramp-up is half of what we would need to achieve the objectives that would allow us not to pay fines," Renault Group CEO Luca de Meo said. (BLOOMBERG)

R

By:

Reuters

September 07, 2024 11:56 AM

PARIS -- Europe's auto industry could face fines of €15 billion ($17.4 billion) for excess carbon emissions due to slowing demand for electric vehicles, Renault Group CEO Luca de Meo said.

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