00:00The European Commission on Tuesday announced a reversal of a wholesale ban on new combustion engine vehicles from 2035 after pressure from ailing carmakers.
00:12Under the revised plans, carmakers will have to comply with the 90% tailpipe emissions reduction target compared to 2021, instead of a 100% reduction.
00:23First, we're staying the course towards zero emissions mobility, but we're introducing some flexibilities for manufacturers so they can meet their CO2 targets in the most cost-efficient way.
00:38The remaining 10 emissions will need to be compensated through European low-carbon steel, e-fuels or biofuels, the Commission said.
00:47Fuel electric vehicles and hydrogen vehicles will also be encouraged, with car manufacturers eligible to receive super credits for producing small, affordable electric cars made in the EU27.
01:00Europe's ailing car industry has been struggling with increasing Chinese competition with the transition to electric vehicles, resulting in financial losses and major job cuts.
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