President Joe Biden has spoken out about his desire to reduce greenhouse gas emissions and met with automakers to discuss how. Biden has also promoted consumer rebates for EVs. Ford Authority reported that Biden had also asked all big three Detroit automakers to support EVs, representing 40% of all new vehicle sales by 2030. Biden’s executive order seeks to have a 50% EV mix in new vehicle sales before 2030. This includes plug-in hybrid, battery-electric, and fuel cell-powered vehicles.
Additionally, the executive order proposes new vehicle emissions rules that aim to increase fuel economy standards and slash emissions by 3.7 % between 2023 and 2026. Although Biden’s goal may not be legally binding, it has won the support of Ford and General Motors as well as Stellantis and all other major U.S.-based automakers. According to the Detroit Big 3, each of them aspires to “reach sales of 40-50% of the annual U.S. volumes…by 2030.”
However, the Detroit-based automakers also pointed out that this goal is not obtainable without government-issued consumer rebates, charging infrastructure, and electric vehicle manufacturing investments. Biden’s proposed infrastructure plan includes $174 billion earmarked for EVs, with $100 billion going to consumer rebates and $15 billion spent building 500,000 new EV charging stations.
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