The telenovela story of limiting vehicle emissions in the EU might have finally reached its penultimate chapter. The Parliament and the French President of the European Union have, after far too long a time, found an agreement on CO2 emission limits for car manufacturers. Now it's just a matter of getting the European Commission to pass the agreement as a bill so it becomes law for the 27 country members.

So what's the final word? Automakers will have to sell an array of cars that produce an average of 130 g/km in 2015. However, this limit will be gradually implemented: 65 percent of their fleet should be compliant in 2012, 75 percent in 2013, 80 percent in 2014 and 100 percent in 2015.

What happens if they don't reach this limit? They will be fined, and this is the point that stirred more disagreement than any other, so it's the part that was softened. Between 2012 and 2018, automakers will be fined €5 for each first excess gram, €15 for the second, €25 for the third and €95 for the fourth and each gram afterwards. This figure will be then multiplied by the total number of cars sold by the manufacturer. Make sense? Take this example: if an automaker gets an average of 140 g/km from their fleet, this would add 5 + 15 + 25 + (95 x 7) euros for a fine of €710 per vehicle sold.

[Source: El Mundo]