Indian automakers must reduce carbon emissions by one-third in three years or face penalties under the third phase of the corporate average fuel efficiency (CAFE) standards set by the Bureau of Energy Efficiency (BEE), the Economic Times (ET) reported. The proposal by India’s energy efficiency and conservation agency is expected to add to the 30 per cent price hike since Bharat Stage VI (BS VI) emission norms were implemented in April 2020. Automakers expressed concerns that a shorter transition period for CAFE-IV norms would affect product planning, development, and investment cycles. The CAFE norms apply to a manufacturer’s entire vehicle output, limiting carbon emissions from all vehicles sold in a financial year. This adjustment aims to provide automakers with more flexibility and time to develop and integrate new technologies to meet these targets.

Source: Mint June 14, 2024 07:55 UTC