The European Union will effectively ban the sale of new internal combustion-powered cars and vans by 2035. The deal reached Thursday by negotiators for member states, the EU parliament, and the EU executive branch, will require automakers to achieve 100% emissions reductions by 2035, with an intermediate target of 55% reductions for cars and 50% for vans by 2030. Cars currently account for 12% of the 27-country bloc’s CO2 pollution. Like a similar requirement adopted by California in August, the EU’s new rules will likely influence markets outside its borders. (Reuters, Bloomberg $, Deutsche Welle, Wall Street Journal $, Al Jazeera, Market Watch)
