Stephan Jacoby, President and CEO of Volvo Cars, said today at an industry seminar in Brussels that the European Commission’s plan of reducing CO2 emissions and promoting electrification throughout Europe is mistaken.
Jacoby believes that a lack of a cohesive incentive strategy and over-optimistic targets set by the EU will not have the desired effects. He said that the high cost of hybrid and all-electric vehicles is currently preventing European car buyers from adopting them.
“Volvo Car Corporation urges the EU to coordinate incentives while supporting research and development”, said Jacoby, adding that if this does not happen, European carmakers will have to deal with the consequences.
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