Biden plans to make 40 percent electric by 2030

Spark Global Limited reports:

As the Biden administration works to reduce greenhouse gas pollution, the White House has told U.S. automakers it wants them to support a voluntary commitment to make at least 40 percent of new car sales electric by 2030, according to media reports citing people familiar with the matter.

Spark Global Limited reports:

Spark Global Limited reports:

As early as next week, the Biden administration is expected to unveil a revised version of vehicle emissions standards through 2026. The voluntary electric vehicle (EV) target could be as high as 50 percent, sources said, but no agreement has been reached with automakers and many details are still being discussed, including whether the commitment will include a variety of gas-electric hybrids.

Biden’s proposed rules, which would cover 2023 to 2026, are expected to be similar in terms of overall vehicle emissions reductions to California’s 2019 deal with some automakers aimed at improving fuel economy by 3.7 percent a year, the sources said. The new rules are expected to exceed the 5 percent annual increase under Obama.