On February 15, the European Parliament confirms the end of the internal combustion engine in 2035. This is the final vote, after which the text of the law is set in stone. Europe bans petrol and diesel engines, the big moment for electromobility. But what should be good for climate and environment leads to total dependence on the US and China. Is Europe shooting itself in the foot?
They are the fuel of the energy transition and those who have them are sitting on a wealth of raw materials: minerals from the group of rare earth metals are used in electric motors. They are also found in wind turbines and batteries. They are essential for the electrification of transport, a powerhouse in world politics, but exploiting them is a dirty business. Nothing works in the high-tech economy without Chinese rare earths. The end of internal combustion engines in the EU from 2035 will boost demand.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
