{"id":12434,"date":"2023-05-23T02:58:38","date_gmt":"2023-05-23T06:58:38","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/commodities\/euro-7-emissions-standard-to-cost-many-times-ec-forecasts-industry-group\/"},"modified":"2023-05-23T02:58:38","modified_gmt":"2023-05-23T06:58:38","slug":"euro-7-emissions-standard-to-cost-many-times-ec-forecasts-industry-group","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=12434","title":{"rendered":"Euro 7 emissions standard to cost many times EC forecasts -industry group"},"content":{"rendered":"
\n

By Nick Carey<\/p>\n

LONDON (Reuters) – Proposed Euro 7 emissions regulations will lead to direct costs for auto manufacturers that are up to 10 times higher than the European Commission’s forecasts, Europe’s car industry group said on Tuesday, citing a new study. <\/p>\n

The European Automobile Manufacturers Association (ACEA) said a study by consultancy Frontier Economics found that the direct costs for petrol cars and vans – including type approval, investment and equipment costs – to comply with Euro 7 would be 1,862 euros ($2,050) per vehicle, versus the Commission’s estimate of 184 euros per vehicle. <\/p>\n

The study said direct costs for buses and trucks would average 11,707 euros per vehicle, compared with a Commission estimate of 2,765 euros.<\/p>\n

The ACEA said the increase in prices for consumers and companies buying those vehicles would be even higher.<\/p>\n

“The European auto industry is committed to further reducing emissions,” ACEA Director General Sigrid de Vries said in a statement. “However, the Euro 7 proposal is simply not the right way to do this, as it would have an extremely low environmental impact at an extremely high cost.”<\/p>\n

European carmakers have been fighting back against Euro 7, arguing the regulations are too costly and unnecessary because the industry is spending tens of billions of euros in zero-emission electric vehicles (EVs). <\/p>\n

But the European Commission says the regulations are needed to cut harmful emissions and prevent a repeat of Volkswagen AG (OTC:)’s so-called Dieselgate emissions scandal of 2015.<\/p>\n

European Union countries and lawmakers will negotiate proposals this year for tighter limits for diesel – but not petrol – car emissions and for heavy-duty trucks and buses, including nitrogen oxide and carbon monoxide. <\/p>\n

Euro 7 would take effect in mid-2025 for cars and in mid-2027 for trucks and buses.<\/p>\n

Last week Italy’s transport minister said the country and its EU allies “have the numbers” to block Euro 7.<\/p>\n

($1 = 0.9084 euro) <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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