Tesla Motors Leads the Charge in Biden's Ambitious Plan for an Electric Auto Industry Revolution
Podcast: Elon Musk PodcastPublished On: Mon Apr 10 2023
Description: The Biden administration is gearing up to introduce some of the most stringent auto pollution limits globally, aiming for electric cars to constitute up to 67% of new passenger vehicles sold in the US by 2032, according to anonymous sources. This ambitious target would mark a significant leap for the US, where only 5.8% of vehicles sold last year were all-electric, and exceed President Biden's previous goal of all-electric cars accounting for half of those sold in the country by 2030. This move would be the federal government's most aggressive climate regulation, propelling the US to the forefront of global efforts to reduce greenhouse gases produced by cars, a significant contributor to climate change. The proposed regulation, however, poses a considerable challenge for automakers, as most have already invested heavily in electric vehicles (EVs) but haven't committed to the levels envisioned by the Biden administration. Additionally, many have faced supply chain issues that have hindered production. Even manufacturers enthusiastic about electric models are uncertain whether consumers will buy enough of them to make up the majority of new car sales within a decade.
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