The EU seeks to gain time for the transition to zero-emission vehicles

The European Union is preparing to relax the regulations originally set to ban the sale of new internal combustion engine vehicles by 2035, with current discussions on loopholes that may extend the ban by five years. A document shows that the EU will also reduce regulatory burdens and provide incentives for small electric vehicles manufactured in the region. This concession comes in response to strong lobbying from companies such as Stellantis NV and Mercedes-Benz Group AG, as well as major automotive-producing countries including Germany, which are trying to mitigate the risks of fines and unemployment. (Bloomberg)