STLA - EV Makers Cheer Biden's Electrifying Plan: UAW Demands Jobs Be Protected | Benzinga
President Joe Biden this week approved tough new emissions standards set by the Environmental Protection Agency (EPA) for cars sold in the U.S.
While it heartened environmentalists, pure-play electric vehicle (EV) makers and those manufacturers committed to a full transition to EVs, the response from the country’s carmakers union was less welcoming.
Although the EPA’s initial proposals were watered down a little, allowing a slower adoption of the rules over the first few years to allow automakers more time to respond, the requirement that two-thirds of new vehicles sold must be EVs by 2032 remained.
Carmakers Respond
General Motors Company (NYSE:GM), which had already committed to selling exclusively EVs by 2035, welcomed the Biden administration’s plan.
It said in a statement: “GM supports the goals of the EPA's final rule and its intention to significantly reduce emissions. Although challenging, we believe our commitments and investments in an all-electric future place GM in an excellent position to contribute to the goals.”
Stellantis (NYSE:STLA), which controls a broad portfolio of U.S. and European car brands, including Chrysler, Dodge and Jeep, said: “While the later-year targets remain aggressive, the final rule improves on the proposal by better reflecting the expected trajectory of market demand and enabling ...