Czech Republic Joining Italy to Fight Carmakers' CO2 Fines

Skoda Auto cars are seen at the production line as the carmaker launches production of MEB battery systems in Mlada Boleslav, Czech Republic, May 17, 2022. REUTERS/David W Cerny/File Photo
Skoda Auto cars are seen at the production line as the carmaker launches production of MEB battery systems in Mlada Boleslav, Czech Republic, May 17, 2022. REUTERS/David W Cerny/File Photo
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Czech Republic Joining Italy to Fight Carmakers' CO2 Fines

Skoda Auto cars are seen at the production line as the carmaker launches production of MEB battery systems in Mlada Boleslav, Czech Republic, May 17, 2022. REUTERS/David W Cerny/File Photo
Skoda Auto cars are seen at the production line as the carmaker launches production of MEB battery systems in Mlada Boleslav, Czech Republic, May 17, 2022. REUTERS/David W Cerny/File Photo

The Czech Republic will join Italy in seeking to prevent carmakers from facing heavy penalties from next year when tougher CO2 emission rules take effect in the European Union, Czech Transport Minister Martin Kupka said on Sunday.

Kupka said carmakers will face problems meeting new targets due to falling demand for electric vehicles in Europe, adding that the two countries had agreed on Friday to present their joint stance this week when EU leaders meet in Budapest.

Starting in 2025, the EU will lower a cap on average emissions from new vehicle sales to 94 grams/km from 116g/km. Exceeding that cap could lead to fines of 95 euros ($103) per excess CO2 g/km multiplied by the number of vehicles sold.

Carmakers face trouble adjusting their ranges to meet those targets, Kupka said, Reuters reported.

"They cannot do it because interest in electric cars is falling in all of Europe," Kupka told a Sunday debate show on broadcaster CNN Prima News. He said carmakers would lack money to finance research and development if they are forced to pay fines.

The Czech Republic is among a group of EU countries pushing back against the bloc's so-called Green Deal to tackle climate change and curb pollution. The tougher limits next year are a step towards plans to ban sales of new combustion engine vehicles in 2035.

The car industry contributes around 9% of GDP in the Czech Republic, a country of 10.9 million which made 1.4 million cars in 2023, making it one of Europe's biggest per-capita producers.

Three carmakers operate in the country - Volkswagen's Skoda Auto, Hyundai Motor Co and Toyota Motor Corp.



Apple to Invest up to $1.5 Bln in Globalstar for Satellite Coverage Expansion

 30 October 2024, US, New York: The Apple store is pictured on Fifth Avenue in Manhattan. (dpa)
30 October 2024, US, New York: The Apple store is pictured on Fifth Avenue in Manhattan. (dpa)
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Apple to Invest up to $1.5 Bln in Globalstar for Satellite Coverage Expansion

 30 October 2024, US, New York: The Apple store is pictured on Fifth Avenue in Manhattan. (dpa)
30 October 2024, US, New York: The Apple store is pictured on Fifth Avenue in Manhattan. (dpa)

Apple will invest up to $1.5 billion in Globalstar to fund the expansion of its iPhone communication services, the satellite provider said in a regulatory filing on Friday.

Shares of Globalstar jumped over 30%, while Apple was down around 1.4% a day after it forecast tepid quarterly revenue growth.

Under the funding agreement, Apple will commit $1.1 billion in cash and also purchase 20% equity in Globalstar for $400 million. The satellite company said it will use a portion of the funds to pay down debt.

The move is another in a line of partnerships between space firms and mobile service providers looking to provide satellite-based connectivity to customers in regions with limited network access.

Globalstar also said it will allocate 85% of its network capacity to Apple. The deal is expected to close on Tuesday.

The iPhone maker partnered with Globalstar in 2022 for a feature that would allow Apple users to send emergency messages from remote areas.