The Biden administration has announced the strongest rules yet for vehicle fuel efficiency. They would accelerate the rate of emissions reductions to between 5% and 10% each year from 2023 through 2026, the EPA said.
The Biden administration has announced the strongest rules yet for vehicle fuel efficiency, a step meant to slow polluting emissions that emerges just as the White House digs in to preserve threatened spending legislation loaded with climate-change proposals.
“‘Vehicle electrification and stronger efficiency standards will … insulate drivers from future fuel price spikes…’” The White House and leading Democrats had already negotiated with Manchin, who represents coal- and oil-producing West Virginia, on changes to pare back the broad spending initiative, which features several environmental proposals aimed at EVs, home solar and more.The Build Back Better bill includes up to a $12,500 tax credit to buyers to lower the cost of EVs, depending on the amount of American-made parts and labor in such vehicles. Smaller tax credits are also part of the proposal.
The EPA said its analysis shows the auto industry can meet the final standards with modest increases in the numbers of EVs entering the fleet. EVs and plug-in hybrids are expected to have about 7% market share in 2023, the Associated Press reported. By 2025, the industry will have invested $330 billion toward electrification, Bozzella stressed. IHS Markit predicts 130 EV models will be available in the U.S. by 2026 versus 50-plus models today.
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