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Biden to set target for 50% EVs by 2030; industry backs goal
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U.S. President Joe Biden addresses a meeting with Latino community leaders at the White House in Washington, U.S., August 3, 2021. /Reuters

U.S. President Joe Biden addresses a meeting with Latino community leaders at the White House in Washington, U.S., August 3, 2021. /Reuters

U.S. President Joe Biden will sign an executive order on Thursday setting a target to make half of all new vehicles sold in 2030 zero-emissions vehicles and propose new vehicle emissions rules to cut pollution through 2026, the White House said.

Biden's goal, which is not legally binding, won the support of major U.S. and foreign automakers who warned it would require billions of dollars in government funding.

General Motors Co., Ford Motor Co. and Chrysler-parent Stellantis NV confirmed in a joint statement that they aspire "to achieve sales of 40-50 percent of annual U.S. volumes of electric vehicles ... by 2030," Reuters reported on Tuesday.

Biden's 50 percent goal and the automakers' 40-50 percent aspiration includes battery electric, fuel cell and plug-in hybrid vehicles that also have a gasoline-engine.

Biden has repeatedly resisted calls from many Democrats to set a binding requirement for electric vehicle (EV) adoption or to follow California and some countries in setting 2035 as a date to phase out the sale of new gasoline-powered light duty vehicles in the face of opposition by the United Auto Workers (UAW) union.

UAW President Ray Curry noted the EV goal but said "the UAW focus is not on hard deadlines or percentages, but on preserving the wages and benefits that have been the heart and soul of the American middle class."

Biden's new executive order sets a new schedule for developing new emissions standards through at least 2030 for light duty vehicles and as early as 2027 for larger vehicles.

Dan Becker, director of the Safe Climate Transport Campaign, said the plan "relies on unenforceable voluntary commitments from unreliable car makers ... Voluntary pledges by auto companies make a New Year's weight-loss resolution look like a legally binding contract."

Biden plans a White House event with automakers on Thursday.

The Detroit three automakers said the aggressive EV sales goals can only be met with billions of dollars in government incentives including consumer subsidies, EV charging networks as well as "investments in R&D, and incentives to expand the electric vehicle manufacturing and supply chains in the United States."

Hyundai said it supports the 2030 40-50 percent EV sales goal. Toyota said in a statement the goal was "great for the environment" and added "you can count on Toyota to do our part."

(With input from Reuters)

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