Europe’s major truck makers have announced they will phase out vehicles that produce emissions by 2040, bringing forward their previous target by a decade, according to a Financial Times report.
The pledge was signed by an alliance of Daimler, Scania, Man, Volvo, Daf, Iveco and Ford to spend close to $100 billion on new technology and transition.
The U.K. will stop selling new diesel and petrol cars and vans from 2030 under plans announced by Prime Minister Boris Johnson as part of a so-called “green industrial revolution” aimed at generating as much as a quarter million new jobs and combatting climate change. Currently, one in four cars sold in the UK in 2020 are electrified in some format according to car registration reporting body SMMT.
The European Union is pushing for a more ambitious target that effectively amounts to a 2025 ban on fossil fuel cars.
Most EU countries already offer incentives and subsidies for electrically chargeable vehicles.
