Volkswagen Facing Fine For Failed Emissions Goal
Jan. 21, 2021— Volkswagen faces a fine of more than 100 million euros, equivalent to $121 million, for missing European Union targets on CO2 emissions from its 2020 passenger fleet, Reuters reported Thursday.
While the German company managed to lower its emissions by 20% it still was above the target required.
“We narrowly missed the fleet target for 2020, thwarted by the COVID-19 pandemic,” Volkswagen CEO Herbert Diess said in a statement.
Volkswagen said EU’s stringent emissions targets will force it to boost the proportion of hybrid and electric vehicles in its European car sales to 60% by 2030, up from a previous target of 40%.