Winterkorn Warns EU on Overburdening Automakers on CO2 Emissions

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EUROPE VOLKSWAGEN Winterkorn warns EU on overburdening automakers on CO2 emissions

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Christiaan Hetzner Oct o ber 1, 2014 22:00 CET PARIS -- Volkswagen Group CEO Martin Winterkorn warned European regulators that it would be "fatal" to overburden the auto industry with tougher CO2 emission targets before a market can develop for electric cars, plug-in hybrids and other fuel-efficient models powered by alternative powertrains.

“Every gram of CO2 that we save in our Automakers are reluctant to develop cars equipped with expensive green technology European fleet costs our group almost when customers prove unwilling to pay for it. 100 million euros," VW Group CEO Martin Winterkorn said. “Every gram of CO2 that we save in our » VIEW ARCHIVED European fleet costs our group almost 100 million euros -- 100 million that we have to invest in advance, without knowing when these investments pay off,” Winterkorn said. ISSUES

“That’s why I worry when Brussels already now starts to cry out for new, more stringent Latest Headlines norms for the time after 2020," he said on Wednesday at a press event ahead of the Paris auto show. VW supplier Gestamp to open U.S. f acility, report says Alf a Romeo readies unveiling of key Giulia midsize sedan Winterkorn warned about the dangers the auto industry is facing due to an ambitious Mercedes's $230,000 Maybach S class def ies China's cooling luxury market European Commission that he feels is getting ahead of itself in regulating new targets VW U.S. chief sees 'limited growth' until new SUVs arrive beyond the 95 grams of CO2 per kilometer agreed for 2020. Mercedes-Benz mulls return of R class f or some markets PSA will open Morocco plant to cut costs, lif t emerging-market sales Volkswagen has said it aims to reduce its CO2 exhaust in its new European fleet to 95g/km Porsche buys Kuka machine tool unit to enhance lightweight production by then, after managing to lower emissions to less than the 130g/km mark for the first time Daimler sells 15 German Mercedes dealerships to Chinese investor in the past year. T oyota seeks to limit damage af ter arrest of global communications chief Jaguar Land Rover CEO f oresees continued struggles f or EVs Each carmaker selling cars in EU has a specific weight-based target they need to reach an EU urged to set 'challenging' 2025 car emissions goal overall fleet goal of 95g/km. Automakers that miss their targets face fines from the Inf initi reveals Q30 compact hatch - in camouf lage European Commission. More » Investment must generate profit

Winterkorn said regulators should accept that carmakers can only make investments when they generate enough profit. "It’s too early for concrete targets. Taking the third step before the first would be fatal,” he warned, urging policymakers to work together with carmakers to develop electric cars and plug-ins.

“We cannot allow Europe’s companies to be impeded in global competition and this danger has never been greater,” he said.

Volkswagen said it may sell over 7.5 million cars in the first nine months of this year and is well on its way to reach its 10 million unit target in 2014, four years ahead of schedule.

You can reach Christiaan Hetzner at [email protected].

Tags: EMISSIONS EUROPEAN UNION REGULATION MARTIN WINTERKORN VOLKSWAGEN ELECTRIC

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