The European Commission rolled out a proposal that would reverse the European Union’s effective 2035 ban on new combustion-engine vehicles, Philip Blenkinsop of Reuters reported. This comes after mounting pressure from the region’s auto industry and would be the bloc’s most significant pullback from its green agenda in years. If approved by EU governments and the European Parliament, the plan would permit continued sales of certain non-electric vehicles, a key demand from carmakers in Germany as well as in Italy. Publicly traded companies in the space include Ford (F), General Motors (GM), Honda (HMC), Lucid Group (LCID), Mercedes-Benz (MBGYY), Nissan (NSANY), Rivian (RIVN), Stellantis (STLA), Tesla (TSLA), Toyota (TM) and Volkswagen (VWAGY).
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