Biden announces new emissions standards

A new executive order from President Biden aims to have more than half of new vehicles powered by electricity by 2030. Top automakers, including Ford, General Motors, and Stellantis—formerly Fiat Chrysler—pledged to increase electric vehicle sales and reduce emissions. Biden’s executive order, signed on Thursday afternoon, calls for adjusted nationwide gas mileage and pollution standards. The Environmental Protection Agency and Transportation Department are working on updated guidelines to cut greenhouse gas emissions and raise fuel efficiency by 10 percent. The new rules will be phased in over the next four years.

What does this change? The order reverses some Trump administration policies that eased Obama-era fuel efficiency standards. President Donald Trump’s EPA reduced the 5 percent annual fuel efficiency improvement requirement to 1.5 percent each year. Roughly 2.2 percent of current vehicle sales involve electric or hybrid vehicles. The automakers emphasized a need for Congress to approve electric vehicle investments.

Dig deeper: Listen to Sarah Schweinsberg’s report on the Biden administration’s push for green energy.