European Union adopts ban on gas-powered cars beginning in 2035
European Union negotiators reached a deal requiring carmakers must cut CO2 emissions by 100% by 2035
Biden says the price of gas was 'over five dollars' when he took office, data shows it was $2.39.
Negotiators from the European Union reached a deal that would effectively ban sales of gas-powered cars beginning in 2035.
The deal was reached on Thursday by negotiators from EU member countries, European Parliament, and the European commission.
By 2035, the new law states that carmakers must cut their CO2 emissions by 100%, rendering it impossible to sell cars that are gas-powered.
Jan Huitema, a lead negotiator for the European Parliament, said that the deal is "good news."
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The flags of the European Union member states outside the Louise Weiss building, the principle seat of the European Parliament, in Strasbourg, France, on Tuesday, Jan. 18, 2022. (Photographer: Valeria Mongelli/Bloomberg via Getty Images / Getty Images)
"This deal is good news for car drivers... new zero-emission cars will become cheaper, making them more affordable and more accessible to everyone," Huitema said.
Additionally, by 2030, carmakers must achieve a 55% cut in CO2 emissions from 2021 levels. The automobile industry was previously operating off of a target of a 37.5% cut in emissions by 2030.
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A car is parked at an electric charging station in San Francisco, Thursday, Aug. 25, 2022. California moved Thursday to require 100% of new cars, trucks and SUVs sold in the state to be powered by electricity or hydrogen by 2035. (AP Photo/Jeff Chiu) … (AP / AP Newsroom)
Vans that are newly produced must also abide by a 50% cut in CO2 emissions by 2030 when compared with those in 2021, and a 100% cut in CO2 emissions by 2035.
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European Union flags fly outside the European Commission headquarters in Brussels, Belgium, April 10, 2019. (Reuters/Yves Herman/File Photo / Reuters Photos)
The European Union will also draft a proposal dictating how cars running on "CO2 neutral fuels" can be on the market past the 2035 100% cut in CO2 emissions deadline.
Reuters contributed to this report.