Companies including PepsiCo Inc. and Nike Inc. are calling for the European Union to implement stricter emissions targets for trucks, which the firms say will lower costs in the long run.

Volvo Group signed an agreement to purchase wind power from renewables producer Vattenfall AB in a rare bilateral energy deal in the transport sector.

The European Union reached a deal to effectively ban new combustion engine cars from 2035, a move that will reshape transportation and mark a significant step on the path to reduce carbon emissions.