VWAGY - Britain's Strict EV Mandate: Toyota JLR Nissan Push For Easing While Tesla Ford Volkswagen Call For Tougher Standards | Benzinga
Top automobile manufacturers are reportedly seeking a delay or weakening of the UK’s regulations aimed at increasing electric vehicle sales and cutting down carbon emissions.
What Happened: A Guardian report on Thursday revealed that prominent companies such as Toyota Motor Corporation (NYSE:TM), Jaguar Land Rover, and Nissan are advocating for a delay in the enforcement of the zero-emission vehicle (ZEV) mandate.
The mandate stipulates that they must sell an increasing number of electric cars or face hefty fines, as revealed in documents obtained by Tom Riley, the author of the Fast Charge industry newsletter.
In contrast, Volkswagen AG (OTC:VWAGY), Ford Motor Co. (NYSE:F) and Tesla Inc. (NASDAQ:TSLA) are calling for a stricter ZEV mandate. The current mandate requires that 22% of new cars sold in 2024 be zero-emission, a figure slated to rise to 80% by 2030.
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Manufacturers producing fewer than 2,500 cars annually are exempt from these rules until 2030. Aston Martin Lagonda ...