(Alliance News) - Stellantis NV reported Thursday that it has met its 2024 electric vehicle sales requirements in the UK.
The merged company of FCA and PSA achieved the mandate on zero-emission vehicles with sales of 39,492 electric cars in 2024, up 59% from 2023, securing a 10% share of the UK EV market.
The ZEV mandate requires manufacturers to sell 22% of new cars and 10% of new vans as zero-emission vehicles in 2024, with targets increasing each year, up to 80% for cars and 70% for vans by 2030. Non-compliance carries fines of GBP15,000 per polluting car sold over the limits, although the government is consulting on rule changes to ease penalties.
Stellantis UK managing director Eurig Druce praised customers and retailers for supporting EV sales, but called for more government incentives to increase consumer demand by aligning with stricter ZEV targets.
Electric vehicle advocates highlighted the success of Stellantis as evidence of the mandate's effectiveness in driving competition, reducing prices, and positioning the UK as Europe's largest electric vehicle market. Government officials reiterated their commitment to support the transition to zero-emission vehicles with more than GBP2.3 billion in investment.
Stellantis' stock closed Thursday down 0.2 percent at EUR12.42 per share.
source: PA
By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter
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