3/3

© Reuters. FILE PHOTO: The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook

2/3

By David Shepardson

WASHINGTON (Reuters) – Detroit’s Big Three automakers plan to announce on Thursday that they aspire to have 40% to 50% of new vehicle sales by 2030 be electric models, sources briefed on the matter said.

The White House is planning an event on Thursday on electric vehicles and fuel economy standards with President Joe Biden and chief executives from General Motors Co (NYSE:), Ford Motor (NYSE:) Co and Chrysler parent Stellantis NV. The administration this week plans to propose revisions to fuel economy requirements through the 2026 model year.

The three automakers declined to comment on Wednesday, as did the White House.

The administration has been pressing automakers to back a voluntary pledge of at least 40% of new vehicles sales being electric by 2030 as it works to reduce greenhouse gas pollution, Reuters reported last week.

Biden has resisted calls from many Democrats to set a binding target for EV adoption or to follow California in setting 2035 as a date to phase out the sale of new gasoline-powered light duty vehicles.

Automakers’ target total includes full battery electric, plug-in electric hybrid vehicles, which also have gasoline engines, and hydrogen fuel cell models, sources said.

The automakers will make clear in a joint statement that the aggressive EV targets are contingent on additional government support for EVs and the charging industry. The sources said the wording of the statement could still change before Thursday.

The administration also plans this week to announce its proposed revisions to vehicle emissions standards through 2026.

Last month Stellantis said it was targeting over 40% of U.S. vehicles be low-emission by 2030.

GM has said it aspires to end sales of new U.S. gasoline-powered light duty vehicles by 2035. Ford has said it plans “at least 40% of our global vehicle volume being all-electric by 2030.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link