Europe’s ICE Ban Is Years Away, But The Pain Starts In 2024

Europe’s carmakers face bottom-line damaging penalties as early as next year as rules to outlaw new internal combustion engines (ICE) begin to bite years before the outright ban on their sale in 2035.

Next year in Britain at least 22% of manufacturers’ sales must be electric and for each ICE sale that breaches that quota a fine of £15,000 ($18,230) will be paid. If electric sales don’t improve in 2024, Ford and Toyota could face some of the biggest fines.