The U.S. Environmental Protection Agency (EPA) has proposed a regulation targeting the U.S. transport market.
EPA expects the regulation, which was proposed April 12, to lead to a 67 percent electric vehicle (EV) sales share in 2032 for light-duty vehicles such as cars, SUVs and passenger pickup trucks, and a 46 percent sales share for medium-duty vehicles, such as vans and larger pickups. In an earlier analysis, the EPA found nearly 70 percent EV sales share would be needed by 2030, along with improvements in gasoline vehicle efficiency, to reach the goals laid out in the Paris Climate Agreement.
The proposal establishes a clearly defined timeline for automakers to ramp up EV production and sales and allows other supporting businesses — from automotive suppliers and battery manufacturers to charging infrastructure companies and electric utilities — to invest with confidence.
Major automakers are collectively investing more than $1.2 trillion in EVs globally