Biden Rolls Out 2030 EV Target

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The Biden administration has announced a goal of ensuring that half of all vehicles sold in 2030 are electric vehicles, setting the stage for proposed new fuel efficiency targets equating to 52 miles per gallon for model year 2026. The Environmental Protection Agency (EPA) issued its proposed revisions to clean car standards for model years 2023 through 2026 and outlined plans to further ratchet up tailpipe emissions standards for light and medium duty vehicles. According to the agency, the proposal would amount to a fuel efficiency equivalent of 52.0 mpg by 2026 compared to the Trump-era standards that would see fuel efficiency increase to just 43.3 mpg by that year (OD Apr.1'20). Biden, speaking on the White House lawn on Thursday, said the future of the US auto industry is "electric, battery electric, plug-in hybrid electric, fuel-cell electric -- it’s electric, and there's no turning back." During his remarks Biden indicated that he has the support of much of the US auto market to meet the 2030 sales target for electric vehicles (OD Jul.29'21). In press statements, executives from Ford, GM, and Stellantis (formerly Chrysler) said they had a "shared aspiration" to reach electric vehicle sales of 40-50% by 2030 but stopped short of committing to the White House target of 50%.

Low-Carbon Policy, Renewable Electricity , Electric Vehicles, Electricity Prices
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