Biden to set target for 50pc EVs by 2030

    Biden to set target for 50pc EVs by 2030
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    US President Joe Biden. File photo

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    US President Joe Biden. File photo

    US President Joe Biden had planned to sign an executive order on Thursday that aims to sell half of all new vehicles to zero emissions by 2030 and to propose new vehicle emission rules to reduce pollution by 2026, he said. the White House.

    Biden’s goal, which is not legally binding, has won the support of major US and foreign automakers, which have warned it will require billions of dollars in government funding.

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    General Motors Co., Ford Motor Co. and the mother of Chrysler Stellantis NV have confirmed in a joint statement that they aim to “achieve sales of 40-50% of the annual volume of electric vehicles in the US … by 2030”. Reuters reported the carmaker’s scheduled announcement on Tuesday.

    Biden’s target at 50 percent and the automotive ambition at 40-50 percent include electric batteries, fuel cells and plug-in hybrid vehicles that also have a petrol engine.

    Biden has repeatedly resisted calls from many Democrats to set a binding requirement for electric vehicles or to follow California and some other countries, setting 2035 as the date for phasing out the sale of new U.S. light-duty gas-powered vehicles. Car Workers’ Union (UAW).

    UAW President Ray Curry noted EV’s goal, but said that “the UAW is not focusing on hard deadlines or percentages, but on maintaining wages and benefits that have been the heart and soul of the American middle class.”

    Biden’s new executive order sets a new timetable for the development of new emission standards by 2030 for light vehicles and by 2027 for larger vehicles.

    Dan Becker, director of the Safe Climate Campaign, said the plan “is based on unenforceable voluntary commitments by unreliable carmakers … Voluntary commitments by car companies make the new year for weight loss look like a legally binding contract.”

    Biden is planning an event at the White House with automakers on Thursday.

    The Detroit 3 automakers said aggressive electric vehicle sales targets could only be achieved with billions of dollars in government incentives, including consumer subsidies, electric vehicle charging networks, and investment in R&D and manufacturing. vehicles in the United States “. States “.

    Hyundai said it supports the 2030 electric vehicle sales target of 40-50%. Toyota said in a statement that the goal was “great for the environment” and added “you can count on Toyota to do our part”.

    U.S. regulators plan to propose a review of the return of fuel economy standards by former President Donald Trump in March 2020. Trump demanded a 1.5% annual increase in efficiency by 2026, well below the annual increases 5 % set in 2012 by the administration of President Barack Obama.

    Biden’s proposed rules, which cover 2023-2026, are expected to be similar in overall vehicle emissions reductions under California’s 2019 agreement with some automakers that aims to improve fuel economy by 3.7% per year by 2026, sources told Reuters.

    BMW, Honda, Volkswagen, Ford and Volvo Cars – which previously reached an agreement in California – said in a joint statement that they supported the “management’s goal of achieving a future for electric vehicles”, but also said “bold action”. “From our partners, the federal government is vital to increasing consumer demand for electric vehicles.”

    Consulting firm AlixPartners said in June that investment in electric vehicles by 2025 could total $ 330 billion. At present, electric vehicles account for about 2% of total global vehicle sales and will be about 24% of total sales by 2030, the company predicts.

    Biden has asked for $ 174 billion in government spending to support electric vehicles, including $ 100 billion in consumer incentives. A Senate infrastructure bill includes $ 7.5 billion for electric vehicle charging stations, but no money for new consumer incentives.

    Last month, Stellantis said it aims to have 40% of US vehicles low in emissions by 2030.

    GM aims to end sales of new US petrol-powered light vehicles by 2035. Ford has stated that it plans to have “at least 40% of the global volume of our vehicles electric by 2030”.

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