A new European Commission (EC) report has highlighted the importance of the low-carbon automotive market in growth of the Europe.

In the document from the EC, flagship initiatives that could increase growth in the European economy have been proposed, according to the Society of Motor Manufacturers and Traders (SMMT).

The EC has identified initiatives such as the need to modernise the transport sector and promote low-carbon vehicles in order to increase Europe’s competitiveness.

Over the next decade, proposals have been set out in the document for how to improve the social market economy in Europe.

One of these plans is a major Europe-wide strategy on low-carbon vehicles, which is designed to promote new electric and hybrid technologies through research, common standards and development of the necessary infrastructure support.

The UK government recently announced plans to provide monetary incentives, from January 2011, for buyers of ultra-low carbon vehicles.

Plug-In Car Grants of £5,000 will be given to motorists purchasing a low-carbon vehicle, which should account for around 25 per cent of the total price.

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