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US President Joe Biden aims at making half of the country’s auto fleet electric by 2030, in a bid to slash US greenhouse gas emissions.
Mr Biden signed an executive order on Thursday setting the move into motion.
“I’m signing an executive order setting out a target of 50% of all passenger vehicles sold by 2030 will be electric and set into motion an all-out effort,” he told White House Reporters in a briefing.
The Biden administration has also proposed some new vehicle emissions standards – which would cut pollution through 2026, starting with a 10% stringency increase in the 2023 model year.
The move by Biden is seen as part of his broader plan to fight climate change. In this case he is trying to help contain climate change by targeting emissions from cars and trucks, while striving to make the US an industry leader. This comes at a time when China is pulling out all the stops to dominate the Electric Vehicle (EV) market.
“We’re working around the clock on the Build Back Better plan, which does three critical things – it transforms our infrastructure, boosting our manufacturing capacity, support of consumers and fleets,” he said.
Mr Biden also said that he had spoken to some major world leaders over the issue of climate change. “I kept my commitment to convene leaders of all the major economies in the world on — it was not in person, but we did it — we did it on a Zoom call with a whole bunch of folks — including the heads of state of China, India, Japan, the European Union — for a meeting hosted in the White House on the most consequential issues facing the world, and the agreement was, it’s the climate crisis,” he added.
The executive order didn’t seem to have much impact on shares of EV makers. Tesla Inc (NASDAQ:TSLA) closed up 0.52% overnight in New York.
