BMW used its earnings call Thursday to lay out a litany of complaints about the European Commission’s latest regulatory proposals, including the December auto package and the Industrial Accelerator Act.
The EU’s auto package includes a weakening of the 2035 emission reduction target for automakers, but that “actually works against technological openness,” CEO Oliver Zipse told investors.
Under the proposal, automakers must lower their emissions by 90 percent from 2021 levels instead of the original 100 percent, but they must make up for the extra emissions through the use of things like green steel and alternative fuels.
Commission President Ursula von der Leyen is spearheading a push for small electric vehicles in an effort to lower emissions and car prices for the average consumer in exchange for emission credits — a strategy Zipse lambasted.
