The European Commission on Thursday proposed a new regulation that includes a raft of measures aimed at enhancing the circularity of the automotive sector, covering the design, production and end-of-life treatment of vehicles.
In a press release, the Commission said that the implementation of the regulation will lead to long-term energy savings at the manufacturing stage, reduced dependency on imported raw materials, and the promotion of sustainable and circular business models.
It is expected to generate 1.8 billion euros (2 billion U.S. dollars) net revenue by 2035, creating additional jobs and enhancing revenue streams for the waste management and recycling industry. Furthermore, it is expected to have substantial environmental benefits, including an annual reduction of 12.3 million tonnes of CO2 emissions by 2035, and increased recovery of critical raw materials.
The proposed regulation, replacing the current directives on end-of-life vehicles and on reusability, recyclability and recoverability, will now be considered by the European Parliament and the Council of the European Union (EU) in the ordinary legislative procedure, the Commission said.
