The European Union has approved

 

The European Union has approved a law that will essentially ban the sale of new combustion engine vehicles in the region from 2035. 

 The EU joins a growing list of major economies that have set an end date for new sales of gasoline and diesel-powered vehicles. The move is expected to cause a significant shift in the investment and production of EVs.


  • The law requires new cars sold in 2030 to have 55% lower carbon emissions compared with 2021 levels and have zero emissions by 2035.
  • The law also requires the European Commission to review the region’s progress toward zero-emission targets in 2026.
  • Other nations which have passed similar laws or announced target dates for combustion engine bans include Canada, the U.K., and Norway.
  • In 2022, EV sales rose about 55% to more than 10 million vehicles, accounting for about 13% of total new cars sold.

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