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Investing.com -- Mercedes-Benz (OTC:MBGAF) (ETR:MBG) CEO Ola Kaellenius criticized the European Union’s plan to ban CO2-emitting vehicles from 2035 in a media interview on Monday, joining other voices questioning the target as it comes up for review this year.
"We need a reality check. Otherwise we are heading at full speed against a wall," Kaellenius told the Handelsblatt business daily regarding the 2035 goal. He warned that Europe’s car market could "collapse" if the ban proceeds.
The Mercedes CEO suggested consumers would rush to purchase petrol or diesel engine vehicles before the ban takes effect.
Kaellenius, who currently serves as head of the European auto lobby ACEA (BIT:ACE), proposed alternative approaches including tax incentives and reduced power prices at charging stations to encourage electric car adoption.
"Of course we have to decarbonise, but it has to be done in a technology-neutral way. We must not lose sight of our economy," Kaellenius said.
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