In 2020, in the first year of Europe’s new emission regulations, industry giants, especially major automobile manufacturers such as Volkswagen and Jaguar Land Rover, faced the financial consequences of missing carbon dioxide emission targets.
Volkswagen paid a heavy price for missing carbon dioxide targets
Companies that miss their carbon dioxide emissions targets $552 million fine had to pay. These fines are seen as a result of strict policies implemented against automakers that fail to meet emissions targets.
Volkswagen sets its targets for 2020 0.75 grams/km by escaping by deviation, A fine of $106 million He announced that he paid. Similarly, Jaguar Land Rover also missed its own targets by 3 grams/km and $43.5 million He had to pay a fine.
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Among other automakers along with Volkswagen Suzuki and Subaru Brands such as have also faced significant penalties. In particular, Suzuki’s 10.4 grams/km per vehicle due to target deviation approx. 1,000 euros penalty must be paid, in total 160 million euros It was reported that he paid a fine.
Subaru in total for 16,176 vehicles with a deviation of 34 grams 52 million euros He paid a fine. This situation pushed automobile manufacturers to develop new strategies. Many companies have created emissions pools with other brands to minimize penalties.
For example, Jaguar Land Rover and Honda have low-emission with Tesla He managed to reduce his sentences by creating a pool. Thanks to these and similar strategies, the total amount of fines paid in 2021 for 10 million euros was dropped.
This is considered an indication of the concrete steps taken by automakers such as Volkswagen to comply with emissions regulations. These developments reveal the challenges the automobile industry faces in achieving its sustainability goals and the innovative solutions they have developed to overcome these challenges.
Additionally, industry analysts are closely watching how automakers’ future strategies will be shaped to better comply with environmental regulations such as carbon dioxide emissions and further reduce potential fines. What do you think about this issue? You can write in the comments section below.