The EU has approved ending the sale of vehicles with combustion engines by 2035 in Europe, the 27-member bloc announced on Wednesday, in a bid to reduce CO2 emissions to net zero.
The proposal was raised last July, and this decision will mean a de facto halt to sales of petrol and diesel vehicles and a complete shift to electric engines in the EU from 2035.
Environment ministers meeting in Luxembourg also approved a five-year extension of the exemption from CO2 obligations granted to “niche” manufacturers, or those producing fewer than 10,000 vehicles per year, until the end of 2035. The clause, referred to as the “Ferrari amendment”, will benefit luxury brands.
Practically this means private transportation will be for the affluent only. So what will happen when the general populace realise that there are insufficient cars for everyone?
ASX:INR is planning to list on the NAS with ADR’s code, IONR
Here is a blurb
ioneer Ltd is the 100% owner of the Rhyolite Ridge Lithium-Boron Project located in Nevada, USA, the only known lithium-boron deposit in North America and one of only two known such deposits in the world.
The Definitive Feasibility Study (DFS)1 completed in 2020 confirmed Rhyolite Ridge as a world-class lithium and boron project that is expected to become a globally significant, long-life, low-cost source of lithium and boron vital to a sustainable future. In September 2022, ioneer entered a 50/50 joint venture agreement with Sibanye Stillwater Ltd to advance the Rhyolite Ridge project. ioneer will be the operator of the Project, which is expected to come onstream in 2024. More information on Ioneer’s Rhyolite Ridge Lithium Boron Project can be found at therhyoliteridgeproject.com and ioneer.com.
This could be a bolter