EPA Mandates 50% Electric or Hybrid Cars by 2032 in Climate Push
April 5, 2024The EPA mandates over 50% of new cars and trucks sold in the U.S. be electric or hybrids by 2032.
New EPA regulations target a reduction in emissions from heavy-duty vehicles starting in 2027.
The U.S. aims to halve greenhouse emissions by 2030 and reach net-zero by 2050, aligning with President Biden's climate goals.
The total cost of implementing these climate change measures is estimated at over $845 billion.
Anticipated benefits include saving Americans an average of $6,000 on fuel and maintenance, and reducing CO2 emissions by seven billion tons over 30 years.
The auto industry will undergo a significant transformation with a shift towards electric vehicles, supported by tax credits and lower costs.
The heavy-duty vehicle emissions rule has received a mixed reception from the industry, with concerns about its practicality and impact.
There is political opposition to the mandates, with Nebraska's congressional delegation seeking to introduce legislation to overturn the rule due to economic and job concerns.
Summary based on 5 sources
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Sources
Yahoo Finance • Apr 5, 2024
Biden’s EV Expansion Strategy: How New Regulations Could Shape Your Next Car PurchaseThe Washington Times • Apr 5, 2024
Joe Biden's climate change rules cost nearing $1 trillionGOBankingRates • Apr 5, 2024
Biden's EV Expansion Strategy: How New Regulations Could Shape Your Next Car PurchaseThe Norfolk Daily News • Apr 4, 2024
Biden’s electric vehicle mandate could be more harmful than helpful