EPA proposed sweeping emissions cuts for new cars and trucks through 2032, with tailpipe emission limits so tough they will compel automakers to ensure two out of every three cars and light trucks sold in 2032 are electric models. Ali Zaidi, President Joe Biden’s national climate advisor, said as much as $1.6 trillion in savings could be generated by the tailpipe emissions standard and electric vehicle push through 2055. EPA says the new emissions targets for light-, medium- and heavy-duty vehicles beginning with the 2027 model year would avoid nearly 10 billion tons of carbon-dioxide through 2055. Under the proposed standards, sales of electric vehicles could climb to 67% of light-duty and 46% of medium-duty vehicle sales by model year 2032, leading to a projected 56% fleet-average emissions reduction.
Get the Pro Farmer market analysis that’s not available online - start a 1-month subscription today & get key market drivers and market insights delivered to your inbox.
