According to Renault head Luca de Meo, the European car industry could face billions in fines due to falling demand for electric vehicles. „If electric vehicles remain at current levels, the European industry may have to pay €15 billion in fines or give up the production of more than 2.5 million vehicles,“ said de Meo. Car manufacturers face stricter CO2 targets from 2025 as the cap on average emissions from new car sales falls from 116 grams per kilometer in 2024 to 94 grams per kilometer.