The Zhitong Finance App learned that under several months of pressure from the automobile industry, the European Union is preparing to propose relaxation of emission regulations for new cars and actually abolish the ban on fuel engines. The move will allow automakers to slow down the pace of introducing electric cars in Europe and bring the region closer in policy to the US — US President Donald Trump is abolishing energy efficiency standards for cars set by previous administrations. Global automakers are facing profit difficulties with the transition to electrification, and Ford Motor Company (F.US) has announced that it will charge $19.5 billion in related expenses due to the comprehensive reform of its electric vehicle business.

The Zhitong Finance App learned that under several months of pressure from the automobile industry, the European Union is preparing to propose relaxation of emission regulations for new cars and actually abolish the ban on fuel engines. The move will allow automakers to slow down the pace of introducing electric cars in Europe and bring the region closer in policy to the US — US President Donald Trump is abolishing energy efficiency standards for cars set by previous administrations. Global automakers are facing profit difficulties with the transition to electrification, and Ford Motor Company (F.US) has announced that it will charge $19.5 billion in related expenses due to the comprehensive reform of its electric vehicle business.