Volvo Car Corporation warned that the European Union’s policies and particularly the White Paper on Transport, which commits to reduced CO2 emissions by at least 60% by 2050, are undermined by the absence of incentives for the promotion of electric cars.
"The automotive industry's cost reduction efforts can't fully compensate for the additional battery system cost. Pan-European subsidies and incentives are needed to support a successful market introduction. Unfortunately such necessary initiatives are jeopardised by the current debt crisis," said Stefan Jacoby, the corporation’s President and CEO.
Sources: Volvo Car Corporation