Biden To Press For Better Car Mileage
Despite a sharp slowing in EVs, the Biden Administration will aggressively press the need for companies to build and sell cars that get much better gas mileage. With gas-powered engines continuing to dominate the US vehicle market, the manufacturers have a problem. They have invested tens of billions of dollars in EVs and have very little to show.
According to Bloomberg: “Emissions limits set to be finalized by the Environmental Protection Agency within days would propel electric vehicle sales well beyond current levels. The EPA has projected that to meet proposed mandates, electric models would need to make up roughly two-thirds of car and light truck sales in 2032 — up from less than a tenth last year.”
Hybrid sales may be the key to whether car companies can move toward better gas mileage. They are unexpectedly selling well.
The government may set new regulations. The American car-buying public will determine, as much as car companies do, whether the targets can be hit.
