Europe's Regulators Set to Change Mandated BEV Sales TargetsEurope's Regulators Set to Change Mandated BEV Sales Targets

European regulators are expected to mollify automakers by offsetting punitive fines for missing battery-electric vehicle sales targets.

The European Commission will host its domestic manufacturers, suppliers and trade unions for a first round of talks at the end of this month while the U.K.’s government has also promised a fast-track consultation after its automaking companies complained that targets are “unsustainable”.

Both moves are designed to produce plans to protect the struggling sector facing increased competition from Chinese automakers receiving unfair state subsidies allowing them to sell BEVs far cheaper than Europe’s legacy manufacturers.

This move is made all the more urgent with the threat of extra U.S. tariffs on EU products. President Donald Trump threatened such before he took office.

Chinese BEV makers are also seemingly shrugging off EU tariffs helped by the fact, and irony, that Europe’s automakers are having to buy credits from them to avoid EC regulator fines for missing BEV sales targets.

European automakers are hoping their meeting with the Commission will help them in sourcing local supply chains for batteries, software and autonomous driving technology, streamline regulation, and guarantee a more level international playing field.

Meanwhile, one major U.K. charging network provider is warning any government weakening of BEV sales targets could see a continuation of the current slump in consumer demand for public charging that is hitting its bottom line.

The Pod Point Group is warning of lower-than-expected results this year and cut its 2024 revenue forecast because of weaker BEV demand.

It also warns the U.K. government that any watering down of BEV sales targets will send the wrong message to both consumers and the industry in planning for a possible electric future, especially around the build-out of public charging infrastructure.

The company, which has installed about 250,000 charging points in the country, says the planned consultation on the zero-emission vehicle mandate could further increase near-term uncertainty for the sector.

Pod Point announced it has revised its revenue forecast to £53 million ($64.70 million), down from its previous guidance of about £60 million ($73.7 million).

In a company statement, Pod Point CEO Melanie Lane, says: “We made good progress on our costs but the weaker-than-expected private EV market has negatively impacted revenues.”