The Biden Administration is proposing to mandate that some 67% of all new car sales be electric by 2032.
The WSJ reports that the EPA is going to propose new limits to emissions for vehicles that would effectively force car makers to move rapidly to EVs sooner.
Under complex new rules to be introduced, the EPA projects that the EVs could account for 67% of new- vehicle sales by the 2032 model year, WSJ reported.
The new standards are likely to spur on more investment in EVs and battery metals to meet the regulatory demands.
“The proposal is expected to avoid 7.3 billion tons of carbon-dioxide emissions through 2055, EPA Administrator Michael Regan said, which according to the agency is the equivalent of the amount from the U.S. transportation sector for four years.
Major auto makers have been moving forward to shift their vehicle lineups to include more battery-powered cars, encouraged by the success of Tesla Inc. and tougher tailpipe-emissions standards around the globe.”