Now, more stringent emission regulations are being prepared with the Euro 7 emission standard. It is said, the Euro 7 emission standard could kill gasoline or diesel-engined cars as early as 2026.
Road construction, traffic jams, urban smog – the new Euro 7 emission standards means expensive changes for carmakers and motorists alike.
With stricter air pollution limits in China, India, Europe and elsewhere; the oil industry must now find a way to exploit more gas – or lose market share for good. A recent report by Reuters suggests that investors are already concerned about the future of oil industry with electric cars entering the market.
The Euro 7 proposal could force gasoline-powered vehicles to be equipped with a heated electric catalyst, two 1.0 liter conventional three-way catalysts, a 2.0 liter particulate filter and an ammonia slip catalyst.
What this means is that Euro 6 and Euro 5 cars, which are still being produced in large numbers, should be refitted with these systems. Daimler Chief Executive Dieter Zetsche told reporters that “the technologies for emissions to conform to European standards already existed”. The problem was their cost to implement.
“It would cost the car industry 60 billion euros ($72 billion) per year,” he said. The German auto industry reportedly lobbied heavily against the new rules and worked out a compromise with Brussels.
