Europe accelerates EV shift with subsidies, bans

News from Brussels

Source: Automotive News Europe, 2020-11-19

Europe is taking unprecedented steps to phase out gasoline and diesel cars and bring an end to the almost 150-year-long era of the internal combustion engine.

The UK's 2030 ban on these cars and Germany's four-year extension of subsidies for electric vehicles reflect the inducement approach governments are taking to getting automakers to embrace electrification.

Regulatory pressure already has helped EVs seize a greater share of car sales in Europe than any other developed auto market in the world.

The industry has pleaded for the help because sales are sliding again due to the pandemic. There also will be drawbacks: the need for fewer workers to manufacture battery-powered cars will spur tens of thousands of job cuts over the coming years.

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