Stock Markets January 29, 2026

Mercedes CEO warns EU’s eased EV rules may undermine goals if details dilute impact

Ola Kaellenius cautions that concessions in the EU proposal could erode emissions benefits even as binding fleet targets are proposed

By Derek Hwang
Mercedes CEO warns EU’s eased EV rules may undermine goals if details dilute impact

Mercedes-Benz CEO Ola Kaellenius said the detailed provisions of the European Commission’s December proposals to relax the transition to electric vehicles could negate intended emissions benefits. The plan would roll back an effective ban on new internal combustion engine cars from 2035, allow sales of plug-in hybrids and range extenders beyond an initial cutoff, permit CO2 shortfalls to be offset with lower-carbon steel and sustainable fuels, and introduce binding electrification goals for corporate fleets tied to GDP per capita.

Key Points

  • Mercedes CEO Ola Kaellenius warned that the detailed provisions of the EU's relaxed EV targets could offset the intended emissions benefits.
  • The European Commission's December proposals reverse an effective ban on new internal combustion engine car sales from 2035 and allow continued sales of plug-in hybrids and range extenders.
  • The plan permits CO2 shortfalls to be compensated with lower-carbon steel and more sustainable fuels, and includes binding electrification targets for corporate fleets tied to GDP per capita - sectors impacted include automotive manufacturing, steel production, and fuels.

Mercedes-Benz Chief Executive Ola Kaellenius warned that the specific terms of the European Union’s softened electrification targets risk undoing the environmental gains the measures aim to secure. His remarks came in Stuttgart ahead of the unveiling of the carmaker’s redesigned S-class series, an effort Mercedes says will help it recover after a challenging 2025.

In December, the European Commission published a package of proposals that effectively reverses what had become a de facto prohibition on sales of new internal combustion engine vehicles from 2035. Kaellenius said the change amounts to opening the door - albeit slightly - but cautioned that how the rules are written will determine whether the shift achieves its stated objectives.

Under the proposals, manufacturers could continue selling plug-in hybrid vehicles and models equipped with range extenders past the initial 2035 cutoff. In addition, companies would be able to address any shortfall in required CO2 reductions by relying on alternatives such as lower-carbon steel and the adoption of more sustainable fuels.

The Commission’s plan still needs approval from EU member states. It also includes provisions for binding electrification targets that would apply to corporate vehicle fleets, with those targets calibrated according to GDP per capita. Kaellenius, who also serves as president of the ACEA European automotive association, cautioned that these mixed measures carry risks for market dynamics.

"The door has been opened slightly for now," he said in Stuttgart. Kaellenius added a further warning about the market trajectory, stating: "There is a great risk that the market will shrink on the way there."


The comments highlight tensions between regulatory flexibility and the ambition of emissions policy. They underscore industry concerns about whether permissive provisions - such as extended sales of plug-in hybrids, use of low-carbon materials, and sustainable fuels as compliance tools - will deliver the same degree of CO2 reduction as a stricter prohibition on internal combustion vehicle sales.

With the proposals pending member state approval, the final shape of the rules and their practical effects on automakers, corporate fleets, and material supply chains remain subject to the negotiating process in Brussels and national capitals.

Risks

  • Regulatory design could dilute emissions reductions if provisions allow extended sales of plug-in hybrids and range extenders - impacting automakers and emissions outcomes.
  • Reliance on lower-carbon steel and sustainable fuels to meet CO2 targets may shift compliance burdens to materials and fuels sectors, with uncertain effectiveness.
  • A potential contraction of the market during the transition - as cautioned by Kaellenius - could affect vehicle sales, fleet procurement strategies, and related supply chains.

More from Stock Markets

January jobs report postponed amid partial federal funding lapse Feb 2, 2026 Wave Life Sciences Reclaims Full Rights to AATD Candidate, Stock Edges Higher Feb 2, 2026 U.K. Stocks Close Higher as United Kingdom 100 Hits Record High Feb 2, 2026 U.K. Stocks Climb as United Kingdom 100 Reaches Record High; Travel and Leisure Names Lead Gains Feb 2, 2026 Spanish Stocks Close Higher as IBEX 35 Hits Record High Feb 2, 2026