EU set to relax_CO2 emission targets for cars

The European Parliament on Tuesday gave the green light to the swift approval of more flexible CO₂ emissions targets for cars and vans, which will give carmakers more time to comply with them and reduce potential fines.

European carmakers warned that the current targets, which must be met this year, could carry fines of up to 15 billion euros ($17 billion) as they rely on selling more electric vehicles, a segment in which they lag behind their Chinese and U.S. competitors.

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