financetom
Business
financetom
/
Business
/
Trump revokes Biden 50% EV target, freezes unspent charging funds
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Trump revokes Biden 50% EV target, freezes unspent charging funds
Jan 20, 2025 6:30 PM

WASHINGTON, Jan 20 (Reuters) - U.S. President Donald

Trump on Monday took aim at electric vehicles, revoking a 2021

executive order signed by his predecessor Joe Biden that sought

to ensure half of all new vehicles sold in the United States by

2030 were electric.

Biden's 50% target, which was not legally binding, had won

the support of U.S. and foreign automakers.

Trump said in an executive order he was halting distribution

of unspent government funds for vehicle charging stations from a

$5 billion fund, called for ending a waiver for states to adopt

zero emission vehicle rules by 2035 and said his administration

would consider ending EV tax credits.

Trump plans to direct the Environmental Protection Agency to

reconsider rules mandating more stringent emissions rules that

would require automakers to sell between 30% to 56% EVs by 2032

in order to comply with federal emissions rules, as well as

parallel rules issued by the U.S. Transportation Department.

Trump said in his order on Monday he was seek the repeal of

a waiver granted to California in December by the EPA allowing

the state to end the sale of gasoline-only vehicles by 2035.

That rule has been adopted by 11 other states.

Trump said the EPA should terminate "where appropriate,

state emissions waivers that function to limit sales of

gasoline-powered automobiles."

His order said Trump's administration should consider "the

elimination of unfair subsidies and other ill-conceived

government-imposed market distortions that favor EVs over other

technologies and effectively mandate their purchase."

Trump said previously he could take other actions on EVs,

including seeking to repeal the $7,500 consumer tax credit for

electric-vehicle purchases as part of broader tax-reform

legislation.

Trump campaigned on ending Biden's "EV mandate," without

spelling out specific targeted policies. Biden repeatedly

refused to endorse setting a date to end the sale of internal

combustion engines.

Trump promised while campaigning to boost U.S. oil

production, even as it has hit record highs, and to roll back

Biden's clean-energy initiatives, which also include subsidies

for wind and solar power and the mass production of hydrogen.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
Copyright 2023-2026 - www.financetom.com All Rights Reserved