In addition to the many restrictive manufacturing rules imposed on consumers and car manufacturers, the Biden administration says they will be pushing for even more vehicle regulations in order to make fossil fuel-powered engines obsolete in the near future. Currently, Biden’s goal is for electric vehicle sales to make up 67% of new car sales by 2032, a staggering change from EVs making up just 5% of sales currently. In addition to the burden placed on manufacturers to begin producing such extensive ranges of electric vehicles, many are worried about China’s significant control over the market, with the country making up a vast swath of lithium battery manufacturing and resource mining.
By Alana Mastrangelo; April 9, 2023
The Biden administration is reportedly planning to propose some of the most stringent automobile pollution rules in the world, which are meant to drive up sales of electric vehicles to ten times their current level so that up to 67 percent of new cars sold in the U.S. are electric vehicles by 2032.
The proposed limits on tailpipe emissions will be brought by the Environmental Protection Agency (EPA), with EPA administrator Michael Regan making the announcement on Wednesday in Detroit, Michigan, according to people familiar with the situation who spoke to the New York Times.
The EPA requirements are expected to ensure that electric vehicles constitute between 54 and 60 percent of all new cars sold in the United States by 2030, with that number rising to 64 to 67 percent of new car sales by 2032, the sources added.
This figure would represent a huge jump in electric cars for the United States, given that only 5.8 percent of vehicles sold last year were all-electric, the report noted. Additionally, the new rule would be the federal government’s most aggressive so-called climate regulation.
Meanwhile, the European Union has enacted rules regarding vehicle emissions that are expected to phase out the sale of new gasoline-powered vehicles entirely by 2035. Canada and Great Britain have also proposed similar rules to Europe’s.
But the new regulations will pose big challenges for automakers, as many of them are already struggling with creating electric vehicles.
While many car companies have already invested a lot into developing electric vehicles, only a few of them have committed to the intensity that the Biden administration is about to propose, the Times pointe out.
Moreover, a lot of these automakers have already had to deal with supply chain issues that have held up production of electric vehicles. Even manufacturers who appear to be very excited about creating electric models have are reportedly unsure whether consumers will buy enough of them.
For example, Breitbart News recently reported that Ford is losing billions of dollars on EVs:
Ford Motor Company says its electric vehicle (EV) unit, “Ford Model e,” is losing billions of dollars, and should be viewed as a startup company.
Model e has lost $3 billion before taxes over the last two years, and is expected to lose another $3 billion this year as the company invests in the new technology, according to a report by Associated Press.
In 2021, Ford’s Model e unit had pretax losses of $900 million. And in 2022, that number was $2.1 billion. Ford reportedly believes Model e will be profitable before taxes by late 2026, with an eight percent pretax profit margin.
“As everyone knows, EV startups lose money while they invest in capability, develop knowledge, build (sales) volume and gain (market) share,” Ford Chief Financial Officer John Lawler said.
Breitbart News will continue to report on the government and car companies’ love affair with Electric cars.