President Joe Biden last week announced his administration will set a new national target for the adoption of electric vehicles. Accordingly, this goal would boost the adoption of all new auto sales by 2030.
Read more of our news content, here; Moltex Energy joins the Nuclear Energy Institute
More about the Biden Administration’s EV Initiative
Moreover, and it is noteworthy, the administration expects the target to be supported by companies such as General Motors, Ford Motor, and Stellantis. Indeed, executives of the Detroit automakers will attend an event Thursday at the White House. There, they will pledge EV sales of between 40% and 50% by 2030.
According to CNBC, though the president will sign an executive order, the sales target is not mandatory. Instead, the document only encourages the U.S. auto industry and government to promote legislation on EV adoption.
In fact, the target includes zero-emission fuel cell vehicles and batteries as well as plug-in hybrid models with internal combustion engines.
Similarly, the Biden administration could also announce proposed federal fuel economy and emission standards through the 2026 model year; specifically, ones that build on California’s tougher regulations.
Automakers join the initiative
Lastly, it’s unclear how many automakers will support Biden’s fuel economy standards. However, automakers such as Ford, Honda Motor, and Volkswagen previously agreed to California’s stricter standards.
Similarly, some smaller brands such as Volvo plan to go all-electric by 2030. Also, Stellantis and Ford announced goals for at least 40% EVs by then.
Per the administration’s announcement, Ford, GM, and Stellantis also released a statement; “We announce our shared aspiration to achieve sales of 40-50% of annual U.S. volumes of electric vehicles by 2030; particularly, to move the nation closer to a zero-emissions future consistent with Paris climate goals.”
“Thus, we look forward to working with the Biden Administration, Congress, and state and local governments to enact policies that will enable these ambitious objectives.”
