Frankfurt Motor Show
Chinese suppliers and manufacturers have stepped up their presence at the Frankfurt auto show, capitalising on a shift toward electric cars forced on German carmakers by regulators seeking to curb pollution. Several European and Japanese carmakers including Fiat, Alfa Romeo, Nissan, Toyota and Peugeot, have skipped the show as the industry seeks cost savings. Automakers face multi-billion euro investments to develop electric and autonomous cars.
PARIS/FRANKFURT (Reuters) - Time is running out for European carmakers, which have waited until the last minute to try to meet ambitious EU emissions targets and face billions in fines if they fail to comply. Manufacturers from PSA Group to Volkswagen are using this week's Frankfurt auto show to reveal the new models and strategies they hope can slash carbon dioxide emissions within months. By next year, CO2 must be cut to 95 grammes per kilometre for 95% of cars from the current 120.5g averag
The automaker also plans to launch nine other electric vehicles by 2024 in Europe, including a new Mustang-inspired electric SUV next year. The automaker unveiled the models at the Frankfurt Motor Show in Germany, and said it would partner with six leading energy suppliers across Europe to provide home charging wall box installation services. The carmaker, like its rivals, has been facing stagnant demand and rising costs as it invests billions of dollars in electric, hybrid and autonomous vehi