President Biden Announces Plans to Support Green Cars & Trucks
Build Back Better initiative’s target is to have zero-emission vehicles account for half of all new vehicle sales in 2030.
Earlier last month, we reported that Japanese automaker Toyota is trying to use its influence in Washington to delay EV adoption. Well, it looks like the White House is not taking the bait. President Biden’s administration recently released statements laying down plans to support clean cars and trucks. The administration has announced that it wants electrified vehicle (BEVs, PHEVs, and FCEVs) sales to account for 50% of the total market share by the year 2030.
The objective is a part of the President’s Build Back Better initiative. Right now, China happens to be the world’s largest EV market, and with its proposed investments, the Biden administration aims to address the climate crisis and become the new world leader. The President will also sign an executive order which will develop new emission standards. President Biden’s new program aims to reduce carbon pollution by two billion metric tons and might save up to 200 billion gallons of gasoline.
Build Back Better Investment Agenda:
- Installing the first-ever national network of electric vehicle charging stations.
- Delivering point-of-sale consumer incentives to spur U.S. manufacturing and union jobs.
- Financing the retooling and expansion of the full domestic manufacturing supply chain.
- Innovating the next generation of clean technologies to maintain our competitive edge.
In addition to with United Auto Workers (UAW), the President was joined by Ford, General Motors, and Stellantis. The automotive giants believe that Build Back Better Plan is proposing a drastic shift that can only be achieved with government support. The UAW showed its support for President Biden’s proposed plan. Ford, General Motors, and Stellantis released a statement in response to the steps announced by President Biden. The administration’s investment plan meets all the demands that the three automakers laid down in their joint statement.
“Today, Ford, GM and Stellantis announce their shared aspiration to achieve sales of 40-50% of annual U.S. volumes of electric vehicles (battery electric, fuel cell and plug-in hybrid vehicles) by 2030 in order to move the nation closer to a zero-emissions future consistent with Paris climate goals. Our recent product, technology, and investment announcements highlight our collective commitment to be leaders in the U.S. transition to electric vehicles,” responded Ford, General Motors, and Stellantis in a Joint statement.
Image Source: The White House, Electrify America