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Home News Aggressive Climate Regulation: Biden Wants Electric Cars To Dominate Industry

Aggressive Climate Regulation: Biden Wants Electric Cars To Dominate Industry

Aggressive Climate Regulation: Biden Wants Electric Cars To Dominate Industry

( – According to reports, the Biden administration is preparing to propose some of the strictest automobile pollution regulations in the world.

These regulations are intended to increase sales of electric cars ten times higher than they are now, resulting in up to 67 percent of new vehicles sold in the U.S. by 2032.

According to persons familiar with the matter who talked to the New York Times, the Environmental Protection Agency (EPA) will introduce the proposed limitations on tailpipe emissions. EPA administrator Michael Regan will announce Wednesday in Detroit, Michigan.

According to the sources, the EPA rules are anticipated to ensure that between 54 and 60 percent of all new automobiles sold in the United States by 2030 will be electric vehicles, with that percentage climbing to 64 to 67 percent by 2032.

Given that only 5.8% of vehicles sold in the United States last year were entirely electric, this figure would reflect a significant increase in the number of electric cars on the road.

The proposed policy would also be the federal government’s most aggressive “climate regulation.”

By 2035, the sale of new gasoline-powered automobiles is predicted to be completely phased out thanks to regulations governing vehicle emissions implemented by the European Union.

Canada and the U.K. have also proposed similar regulations to those in Europe.

However, the new restrictions would provide significant difficulties for automakers because many already have trouble producing electric vehicles.

The Times notes that even though several automakers have previously made significant investments in the development of electric vehicles, just a small number of them have made the kind of serious commitments that the Biden administration is likely to suggest.

The manufacture of electric vehicles has also been slowed down by supply chain challenges many of these automakers have already had to contend with.

According to reports, even automakers who seem highly enthusiastic about developing electric cars are dubious about whether consumers will purchase enough.

For instance, according to AP News, Ford is losing billions of dollars on E.V.s:

Ford Motor Company says its electric vehicle (EV) unit, “Ford Model e,” is losing billions of dollars, and should be viewed as a startup company.

Model e has lost $3 billion before taxes over the last two years, and is expected to lose another $3 billion this year as the company invests in the new technology, according to a report by Associated Press.

In 2021, Ford’s Model e unit had pretax losses of $900 million. And in 2022, that number was $2.1 billion. Ford reportedly believes Model e will be profitable before taxes by late 2026, with an eight percent pretax profit margin.

“As everyone knows, EV startups lose money while they invest in capability, develop knowledge, build (sales) volume and gain (market) share,” Ford Chief Financial Officer John Lawler said.

Family Conservation PAC will continue to cover the government’s and automakers’ adoration of electric vehicles.

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