automobile industry

On December 16, the European Commission will announce new strategic decisions on the development of the automotive industry, which include lifting the ban on internal combustion engines in 2035, creating a new class of low-cost electric vehicles and exempting a number of commercial vehicle regulations and measures, Logos Press reported.

Automakers in Europe are concerned about the EU authorities’ lack of a pragmatic political plan to transform the industry and argue that the current crisis in this segment of the industry poses a serious threat to the bloc’s economic future,” Logos Press reports.

Car production in the UK fell by 33% in May this year compared to the same month last year and fell to an all-time low since 1949,” Logos Press reported.

Volkswagen, one of the world’s largest automakers, is rapidly losing assets, closing plants and laying off staff, Logos Press reported, citing RBC.