Across the nation, there’s a clear message that mandates on electric vehicles (EVs) are challenging for the industry. Even leading car manufacturers like Ford and GM are cutting back on investments. Yet, President Biden is pushing his environmental agenda even further.
He is now set to introduce the most stringent emissions regulations to date. Bloomberg reports that these new measures are being prepared by the Environmental Protection Agency. The aim is to significantly increase electric vehicle sales. The plan requires that by 2032, about two-thirds of all new cars and light trucks sold should be electric. This is a huge leap from last year’s figure, which was less than 10%.
However, this could lead to a scenario where people might stop buying new cars altogether. Despite this possibility, the regulation seeks to reduce pollution and carbon dioxide emissions. It represents a significant move by President Joe Biden’s administration towards achieving the U.S.’s Paris Agreement goal of cutting its greenhouse gas emissions by 2030.
Currently, the transportation sector is the largest source of climate pollution in the U.S., according to Bloomberg. Manish Bapna, the head of the Natural Resources Defense Action Fund, points out that cars and light trucks alone account for roughly 20% of the carbon footprint. He believes that reducing this is crucial for making real progress.
Biden is faced with the challenge of implementing new emissions regulations while considering the concerns of Michigan voters and autoworkers who are hesitant about the rapid transition to electric vehicles. U.S. carmakers argue that the proposed EV targets are unrealistic without more charging infrastructure. They also highlight the rising labor costs as a significant burden.
John Bozzella, the leader of the Alliance for Automotive Innovation, stressed the importance of the next few years for developing supply chains and charging networks. To address these concerns, the EPA plans to set less aggressive emissions reduction goals in the short term, while still aiming for the same objectives by 2032.
David Cooke, a senior analyst with the Union of Concerned Scientists, mentioned that the rule might not fully meet the current needs but ensures a move towards zero-emission vehicles nationwide. “We will end up with more EVs on the road as a result of these rules than if we didn’t have them,” he added.
This policy, despite its challenges, represents a significant step in the Biden administration’s environmental efforts. It’s a part of what some might call the unique approach of “Bidenomics.”