Welcome to the Brussels Edition, Bloomberg’s daily briefing on what matters most in the heart of the European Union.
Commission President Ursula von der Leyen is sticking to her guns on banning sales of combustion-engine cars by 2035. But her ambitions clash with the realities makers of electric vehicles are facing. US, German and French manufacturers are suffering from soft demand and producing EVs up to 45% below initial expectations. Some, like Porsche and Mercedes-Benz, are abandoning sales targets for the segment, while the EU’s biggest battery producer is looking to broaden sales beyond the car industry. All eyes are now on von der Leyen, who is due to present her Clean Industrial Deal within 100 days of the start of her second term. The plan will aim to preserve climate goals while boosting the competitiveness of European manufacturing.