EU Carbon Emission Standards: Geely and Tesla Meet Requirements, Volkswagen and Ford Face Fines

The European Union has set strict carbon emission standards for new cars by 2025. Ford and Volkswagen may face hefty fines for failing to meet these standards. Currently, only Geely and Tesla are compliant. Tesla sells purely electric vehicles, while Geely sells a significant number of electric vehicles under the Volvo brand. Toyota has high sales of hybrid vehicles but lower sales of purely electric vehicles. Automakers that fail to meet the standards will face fines of 95 euros per vehicle for each gram of excess emissions.

Tesla was once fined $31,000 for failing to meet environmental standards. Volkswagen, Ford, and other automakers may face substantial fines due to their difficulty in achieving the new emission standards. Volkswagen may also face claims in any purchase location due to the "Dieselgate" scandal. Additionally, Volkswagen, BMW, and Daimler have faced antitrust investigations by the European Union.