Automakers could face billions in fines for missing 2025 emission targets

Europe's auto industry may face fines of up to €15 billion for exceeding carbon emission limits, as electric vehicle demand slows, according to Renault Group CEO Luca de Meo. Stricter EU CO2 targets take effect in 2025, reducing the cap on average emissions from 116 grams/km in 2024 to 94 grams/km. Automakers that exceed these limits will be fined €95 for every excess gram of CO2 per kilometer, multiplied by the number of vehicles sold.