An economic assessment of low carbon vehicles

Europe faces a significant economic challenge. Ahead lies the task of reining in public debt, revitalizing stagnant economies and creating new opportunities for millions of jobless workers. At the same time, the European Union has committed to playing a lead role in tackling climate change. Among the EU’s headline climate initiatives, the European Commission’s Transport White Paper sets a goal of reducing transport CO2 emissions by 60 percent by 2050. It is therefore important to understand the economic impact of the transition to low-carbon vehicles. This technical and macro-economic study focuses on light duty vehicles -- cars and vans. It has been advised by a broad group of stakeholders in the move to low-carbon transport, including auto producers, technology suppliers, labour groups, energy providers and environmental groups. The resulting fact-base is anticipated to serve as a reference point for discussions around the low-carbon transition.