PSA Group CEO: EU’s planned 2020 CO2 auto industry fines will create “a Chinese Trojan Horse”

PSA Group CEO: EU’s planned 2020 CO2 auto industry fines will create “a Chinese Trojan Horse”

At a recent auto industry event, PSA Group CEO Carlos Tavares said that the proposed move by the European Union (EU) to impose carbon dioxide (CO2) auto industry fines from 2020 would end up creating “a Chinese Trojan Horse.”

The statement by Tavares underscores an evident argument against the EU’s plans for 2020 carbon dioxide auto industry fines. As per the new guidelines under review with European Union policymakers, the fines will be imposed on automakers if they fail to comply with minimum fleet-level fuel-efficiency goals.

In his statement at the auto industry event, Tavares said that in proposing the imposition of the EU’s 2020 carbon dioxide fines, the policymakers had overlooked the fact that the “obvious” outcome of the action would be the creation of “a Chinese Trojan Horse.”

Terming the proposed action as dangerous, Tavares said that the EU’s planned 2020 carbon dioxide auto industry fines could bring a leading Europe-based auto manufacturer “to its knees.” Tavares further added that, in such a scenario, the automaker missing its carbon dioxide targets “could not be acquired by another big European carmaker purely because of antitrust rules.”

Tavares’ argument opposing the EU’s 2020 carbon dioxide auto industry fines is noteworthy because he is not just the CEO of PSA Group, but is also the present Chairman of the European auto industry lobby group ACEA. Tavares, thus, speaks for the broader auto industry, and not just PSA Group alone.

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