With Euro 7 measures expected to be introduced within the next few years, car manufacturers are shifting to electric vehicles (EVs), as internal combustion engine (ICE) vehicles are becoming less viable for the future European auto market.
Several European automakers have already introduced a range of EV models, aiming for EVs to make up a high proportion of their sales by 2030. Now Asian companies are eying the European market for EV sales as new regulations are expected to dramatically restrict the sale of traditionally fuelled vehicles.
Throughout 2021 and 2022 the EU is addressing the pollution caused by vehicles on Europe’s roads to introduce a new emission standard called Euro 7 in 2025. Air pollution has been blamed for hundreds of thousands of premature deaths annually, as well as being linked to several diseases. However, the shift comes largely in response to the COP26 climate conference held last November in which several European countries made net-zero carbon emissions pledges.
While Euro 7 may put fear into some automakers, as they race to develop their EV operations, others are embracing the change. Several European, American, and Asian car manufacturers have risen to the challenge and are expected to develop several highly competitive EV models by 2030.
Source: OilPrice