46 min ago
VW Stock Rises After Europe Relaxes Emissions Rules
The Volkswagen Tiguan. The car maker had been expected to pay as much as $1.6 billion in fines if the emissions rules went ahead unchanged. (Sjoerd van der Wal/Getty Images)
Europe’s embattled automakers and their investors just got a reprieve.
Volkswagen stock rose as much as 5% after the European Union said it would relax the bloc’s carbon-dioxide emissions rules—removing the immediate threat of fines. Rather than needing to hit aggressive new standards in 2025, automakers will get three years to comply.
“It means more breathing space for industry and more clarity, and without changing the agreed targets,” European Commission President Ursula von der Leyen said Monday.
