A deal was struck on Thursday by the EU's three governing bodies - its executive branch, parliament, and member states- that will enforce a zero-emission target for automakers come 2035.

This decision will ban the registration of new gasoline and diesel cars on the region's roads after 2035, hastening the switch to full-electric and hydrogen-powered vehicles.

The agreement includes a decrease of CO2 emissions by 55 percent for new cars sold starting in 2030, which is much higher than the existing target of a 37.5 percent reduction.

There are a few exceptions to the new rules, however. For example, the council and parliament agreed that niche manufacturers -- like Lamborghini -- which don't mass produce vehicles will get a 1-year extension on hitting emissions targets.

Several major automakers have announced plans to stop selling gasoline and diesel cars in Europe by 2035 or sooner, including Volkswagen, Stellantis, Ford, Bentley and Jaguar.

Source: Automotive News