BRUSSELS - The European Commission on Monday proposed allowing European automakers to meet their carbon dioxide (CO2) emissions targets over a three-year period instead of annually, offering greater flexibility in compliance.

Commission President Ursula von der Leyen announced at a press conference that she would introduce an amendment to the CO2 standards regulation in March, aimed at giving car manufacturers more leeway in meeting their targets.

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The targets remain unchanged and must still be met, but this proposal provides "more breathing space for the industry and greater clarity", she said.

The amendment requires approval from the European Parliament and the Council of the European Union (EU), but von der Leyen expressed confidence that it would pass swiftly.

Automakers have been urging the EU to adopt a more flexible approach to emissions compliance, warning that rigid annual targets could result in steep fines and further burden an already struggling sector.

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The European Commission plans to unveil its action plan for the automotive industry on March 5, aiming to accelerate the electrification of Europe's car fleet and enhance global competitiveness.