Porsche Delays EV Launch Amidst German Debate on EU's 2035 Ban
Porsche, a subsidiary of Volkswagen, has postponed its electric vehicle launch due to weak demand. This move comes amidst a heated debate in Germany over the EU's 2035 target to phase out new combustion-engine vehicle sales. German Chancellor Friedrich Merz is set to meet with automotive sector representatives to discuss the issue on Thursday.
The EU recently agreed to review its 2035 target following pressure from carmakers. Merz, who opposes the EU's ban, argues that diesel engines are still crucial for truck manufacturing and that Germany should continue researching this area. He believes the EU's plan is 'wrong' and seeks to scrap the deadline to help the struggling German car industry, which includes giants like Volkswagen, BMW, and Mercedes-Benz.
The German car industry faces fierce competition from Chinese electric vehicle rivals like BYD. Additionally, it grapples with weak demand and a slower-than-expected shift to electric vehicles. Merz hopes that synthetic fuels can be developed to enable combustion engines to run more environmentally friendly in the coming years. The current debate within the German government reflects differing views, with the CSU and CDU advocating for scrapping the ban, while the SPD supports maintaining it.
The German car industry, including its electric vehicle plans, faces challenges from weak demand and foreign competition. Chancellor Merz aims to help the sector by pushing for a review of the EU's 2035 target. The outcome of his meeting with automotive representatives on Thursday and the ongoing debate within the German government will shape the future of the industry.
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