This is intended to promote electric vehicles (EVs). Citing insiders, Bloomberg reports that the Environmental Protection Agency (EPA) is expected to reveal the proposed standards designed to impact cars produced between 2027-2032 at an event in Detroit next week.
The EPA has confirmed that the new regulations aim to boost EV ownership amongst consumers. The standards are still under review by various governmental agencies. The EPA has refrained from disclosing additional information.
In August 2021, President Biden signed an executive order directing the EPA to establish emissions and fuel efficiency standards that can help combat climate change. Following that, the EPA released new greenhouse gas emissions standards for vehicles made in the years between 2023 and 2026. These regulations were billed by the agency as being the most ambitious measures of their type.
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The upcoming proposal is expected to be introduced as part of the Biden government’s continued effort to promote EVs, and its focus on electrifying home appliances as part of an overall attempt to combat global warming. Shortly after being elected, Biden declared that he wanted half of all vehicles sold in the country to be emissions-free by 2030.
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"Already, President Biden’s Investing in America agenda is powering a domestic clean energy manufacturing boom, lowering costs for American families, and creating good-paying union jobs," the EPA stated to Fox News Digital.
The statement continued, "As directed by the President in an executive order, the EPA is developing new standards that will build on this historic progress and support the transition to a zero-emissions transportation future, lowering costs for consumers, and protecting people and the planet," the agency's statement continued. "Because they are currently under interagency review, EPA cannot comment further on the rules."
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Despite the concerted push by the Biden administration and Democratic states to rapidly increase EV adoption within the US, a new report from the Alliance for Automotive Innovation showed that traditional petrol-fueled vehicles remained prevalent in this year’s new car sales with 93% ownership. EV's still remain to be more costly and less efficient.
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According to Kelley Blue Book, the average cost of an EV is $64,338 while the price of a compact petrol car stands at an average $26,101. Furthermore, the Department of Energy states that the average range of petrol vehicles for model year 2021 was 403 miles compared to the median 234 miles of EVs from the same year. Last year, the National Highway Traffic Safety Administration (NHTSA) set new fuel economy standards that it estimated would result in a 10% annual fuel efficiency increase for 2026 models, but would cost automakers roughly $236.5 billion and make vehicles $1,000 more expensive.
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Transportation Secretary Pete Buttigieg has said that the new regulations will "protect communities by reducing carbon emissions." However, critics have countered that the new rule will raise consumer costs when faced with mounting inflation. Republicans have also claimed that the NHTSA's new fuel economy standards will increase prices and deprive individuals of safe, affordable vehicles.
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This issue has been the subject of review by Rep. Cathy McMorris Rodgers, R-Wash., the current chair of the Energy and Commerce Committee.
In addition, the EPA's proposed standards arrive shortly after the Biden administration unveiled a range of regulations on how the tax credits for EVs within the Inflation Reduction Act will be enforced. Under the latest provisions, consumers will only be entitled to tax credits for EVs with certain amounts of minerals and components from the U.S. or partner countries with which the U.S. has free trade agreements.
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Since most of the U.S. supply chain sources important minerals and EV battery parts from China and overseas nations, these new standards are expected to severely limit EVs that can qualify for tax credits. A Brookings Institution review established in July disclosed that China currently holds 78% of the globe’s electric cell manufacturing capacity.
During a conference held on March 31, a Biden administration official told reporters that it was still uncertain how many vehicles might meet the requirements for tax credits under the new proposal.
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