FRANKFURT: Frankfurt's biennial International Auto Show opens its doors to the public Thursday , but major foreign carmakers are staying away while climate demonstrators march outside - forming a microcosm of the industry's woes.
The potential blow of US tariffs on European auto imports hangs over many carmakers, who have already suffered from an escalating Washington-Beijing trade confrontation due to their American factories. The remaining manufacturers huddled in Frankfurt's massive trade fair complex have one major priority: stoking enthusiasm for new electric models set for release this year, as new EU carbon emissions limits enter into force from 2020.If manufacturers cannot squeeze the average carbon dioxide output of their fleets below 95g per km, they will be fined a hefty €95 per excess gram on each car registered.
And stablemate Porsche is betting buyers will be prepared to fork out a massive premium over the Californian brand's top models for its new battery-powered Taycan. Where big international competitors will be lacking, climate demonstrators are planning to make up the numbers at this year's IAA. Climate campaigners inspired by Swedish militant Greta Thunberg plan to stage major protests at the Frankfurt auto show this year.
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Source: BusinessTimes - 🏆 15. / 51 Read more »
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