US Government Issues Proposal To Boost Electric Vehicle Sales And Change Auto Emissions St...

The US government is proposing a plan to change auto emissions standards in America so that automakers sell more electric vehicles and combat gas emissions. In order to meet the new proposed standards, electric vehicles will need to make up around two-thirds of new cars sold in the US by 2032. 

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The US government is trying to change auto emissions standards so that automakers sell more electric vehicles, combatting the high levels of fossil fuel emissions in our atmosphere. With this new plan, the government is hoping that electric vehicles will make up two-thirds of all new car sales by 2032. 

According to Matthias Heck from Moody’s, a risk management company that analyzes industry practices, without new requirements the US wouldn’t reach that goal until after 2035. 

“The goals laid out by the EPA are manageable, but it won’t be easy and high levels of investment would be needed. For now, the proposal is still just that, a proposal, and could well change before being finalized,” Heck stated according to CNN

Analysts believe that consumers will be more drawn to electric vehicles in the coming years as prices drop and the battery technology improves. Government incentives like the Inflation Reduction Act will likely help sales as well. 

“It’s important to remember that, nearly a decade from now, electric vehicles are going to be different from what’s on the market today,” said Chris Harto, as analyst for transportation and energy at Consumer Reports. 

“Even as electric vehicle market shares rise to two-thirds, it’s not like EVs will flood America’s roads overnight. 80% of the cars on the roads in 2032 will still be gas-powered, but shopping for a new vehicle will be different.”

“At the same time, driving ranges will increase, fast charging will be easier and more accessible and owners will enjoy greatly reduced operating costs. So when combined with improved charging networks – something else that can be expected over that time – electric cars won’t be a particularly hard sell for consumers who are just looking for the best vehicle at a good price,” Harto said.

Heck believes that “next-generation EV batteries expected in the next few years will go 30% further on a charge and will recharge 30% faster.”

“There will also be more electric vehicle models available by 2032. Today, there are ‘EV equivalents’ available for roughly 40% of the gas vehicle models Americans can buy,” according to Elizabeth Krear, vice president of the electric vehicle practice at JD Power. 

“By 2026, just three years from now, [I] expect there will be ‘EV equivalents’ for 75% of the vehicles Americans shop for and market share will have already tripled to 27%,” Krear predicted. 

“California plans to allow the sale of only fully electric and plug-in hybrid vehicles by 2035, a goal it’s on the way to meeting,” according to Corey Cantor, an analyst with Bloomberg NEF. 

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“California’s influence on the whole country is really bringing it forward maybe a year sooner than where it would be without California.”

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“Reaching two-thirds EV market share mark by 2032 isn’t a sure thing, but it should be manageable,” said Cantor.

“The increasing number of automakers entering the EV market will also help. Not everyone is willing to jump ship just because it’s an EV or it has X-Y-Z piece of technology. I think that when you have something like Toyota, definitely a loyal consumer base, they don’t want anything other than Toyotas,” said Ivan Drury, an industry analyst with Edmunds.com. 

The Alliance for Automotive Innovation is an industry group that follows most major automakers operating in the US. The Alliance posted a statement in which they asked various government agencies for cooperation and caution when it comes to these plans. 

“[A] lot has to go right for this massive – and unprecedented – change in our automotive market and industrial base to succeed,” the group wrote in its statement.