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Biden Expected to Announce Goal of 50% Electric Vehicle

Biden Expected to Announce Goal of 50% Electric Vehicle
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Biden Expected to Announce Goal of 50% Electric Vehicle

Biden Expected to Announce Goal of 50% Electric Vehicle

The White House said Thursday it aims for half of all new vehicles sold by 2030 to be electric, describing the switch to battery power as essential to keep pace with China and fight the climate change.

President Biden is expected to announce the target Thursday afternoon, according to a White House statement, as part of a plan that will also include building a nationwide network of charging stations, providing financial incentives for consumers to purchase electric cars and financial aid for car manufacturers and suppliers to retrofit electric vehicle factories. The president also plans to tighten fuel economy standards that were overturned by President Donald J. Trump.

Electric vehicles account for a much higher share of auto sales in Europe and China due to consumer incentives and government regulations.

“Despite the pioneers of the technology, the United States is lagging behind in the race to manufacture these vehicles and the batteries that go into them,” the White House said in a statement. “Today, the market share of electric vehicle sales in the United States is only one-third that of the Chinese electric vehicle market.”

Virtually all of the major US automakers as well as many foreign automakers have endorsed the plan, although they described the target as 40-50% electric vehicles and said that would only be possible with enough. charging stations for millions of cars.

“We look forward to working with the Biden administration, Congress, and state and local governments to adopt policies that will enable these ambitious goals,” said Ford, General Motors and Stellantis, owners of Jeep and Chrysler, in a statement. joint.

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The United Auto Workers have expressed support for the plan, as have BMW, Honda, Volkswagen and Volvo.

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