Sourcing Renewables - August 5, 2021
President Biden to Launch Ambitious National EV Target
President Biden released Aug. 5 his plan to transition 50% of car and trucks sales in the U.S. to electric vehicles by 2030.
The president intends to sign an Executive Order calling for half of all new vehicles sold in 2030 to be zero-emission, including battery electric, plug-in hybrid electric or fuel cell-powered vehicles. The administration said it plans for the pursuit of this target to bolster the auto sector domestic supply chain and accelerate innovation and manufacturing in the auto sector.
American automakers Ford, GM, and Stallantis and the United Auto Workers are expected to accompany President Biden at the White House for the official announcement of this ambition to express their support. The three automakers used this opportunity to also announce a joint aspiration of their own to achieve sales of 40-50% electric vehicles in the U.S. by 2030.
“This represents a dramatic shift from the U.S. market today that can be achieved only with the timely deployment of the full suite of electrification policies committed to by the Administration in the Build Back Better Plan, including purchase incentives, a comprehensive charging network of sufficient density to support the millions of vehicles these targets represent, investments in R&D, and incentives to expand the electric vehicle manufacturing and supply chains in the United States,” Ford, GM and Stellantis wrote in a joint statement. “With the UAW at our side in transforming the workforce and partnering with us on this journey, we believe we can strengthen continued American leadership in clean transportation technology through electric vehicle innovation and manufacturing.”
The EPA and U.S. Department of Transportation also plan to announce new fuel efficiency and emissions standards after previous standards were rolled back by the Trump administration. The new targets are estimated to save approximately 200 billion gallons of gasoline and reduce nearly two billion metric tons of carbon.
The conversion of American vehicles to EV models works alongside Biden’s infrastructure plan laid out in the Build Back Better Agenda and the Bipartisan Infrastructure Deal. In addition to ensuring the sale of electric vehicles, Biden hopes to use the infrastructure deal to install a national network of EV charging stations and finance the expansion of domestic manufacturing supply chains to support the conversion.
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