Volvo slams EU carbon targets as 'unrealistic'
Car manufacturer Volvo has criticised EU targets for cutting carbon emissions, arguing its approach towards vehicle electrification could damage the European car market.
Speaking at an industry seminar earlier this week (March 20), Volvo president and CEO Stefan Jacoby, warned that jobs, investment and competiveness could be under threat - if EU targets are not adjusted.
He said: "Volvo Car Corporation urges the EU to coordinate incentives whilst supporting research and development. The European automotive industry risk losing its present technological leadership if this doesn't happen. In the long-term, this jeopardises our industry's competitiveness and European jobs."
Volvo also raised concerns about the feasibility of the commission's White Paper on Transport, which said that greenhouse gas emissions in the transport sector need to be cut by at least 60% by 2050 to achieve the EU's climate change goals.
The paper also calls for the use of conventionally fuelled cars in cities to be halved by 2030 and then completely phased out by 2050.
However, Volvo argues that EU electric car growth forecasts are "unrealistic" and that it is "far too early to dismiss the conventional diesel and petrol power", adding that it has reduced its diesel and petrol vehicle emissions by 13% in the last two years.
Mr Jacoby added that new EU emission regulations - coupled with tougher vehicle electrification targets - will present a "very difficult challenge for European car manufacturers".