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Tag: Italy

Porsche and Ferrari are behind the debate that could derail 2035 EU ICE ban

2023-03-09 /

It is deeply disappointing to learn that Porsche and Ferrari are lurking in the shadows, feeding the climate change debate.

CarScoops »

In mid-February, the European Union approved a law that was set to effectively ban the sale of new internal combustion vehicles by 2035. At the time, it seemed that a rubber stamp was all that was needed to finalize the environmental measure. In March, though, Germany and Italy threw a wrench in the works, and it seems that those nations’ two best-known performance brands may be partially to blame for the EU’s headache.

Porsche and Ferrari, two brands known for their on-track performance and engineering expertise, have both decided to invest heavily in the future of synthetic fuels – the very product that both Italy and Germany want allowances made for before they agree to sign onto the legislation, reports Bloomberg.

International opposition mounts over proposed U.S. EV tax credit

2021-10-30 /

Reuters »

The European Union, Germany, Canada, Japan, Mexico, France, South Korea, Italy and other countries wrote U.S. lawmakers saying a proposed U.S. electric vehicle tax credit violates international trade rules, according to a joint letter made public Saturday.

A group of 25 ambassadors to Washington wrote U.S. lawmakers and the Biden administration late Friday saying “limiting eligibility for the credit to vehicles based on their U.S. domestic assembly and local content is inconsistent with U.S. commitments made under WTO multilateral agreements.”

The U.S. Congress is considering a new $12,500 tax credit that would include $4,500 for union-made U.S. electric vehicles and $500 for U.S.-made batteries. Only U.S. built vehicles would be eligible for the $12,500 credit after 2027, under a House proposal released this week.

Canada and Mexico have issued separate statements in the last week opposing the plan. The U.S. State Department declined to comment Saturday and the White House did not immediately respond to a request for comment.

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