Stock

US EPA says it has not made decision on California 2035 vehicle waiver

By David Shepardson

WASHINGTON (Reuters) – The U.S. Environmental Protection Agency said on Friday it has not made a decision yet on whether to approve California’s landmark plan to end the sale of gasoline-only vehicles by 2035.

A senior California Air Resources Board official told Reuters in October the state expects the EPA to grant a waiver under the Clean Air Act to California to implement its plan to require that at least 80% of new cars sold be electric by 2035 and up to 20% plug-in hybrid models. California’s rules have been adopted by 11 other states including New York, Massachusetts and Oregon.

California has seven other waivers pending with the EPA.

“EPA continues to review California’s waiver requests closely to make sure its decisions are durable and grounded in the law. We have no updates to share on timing,” an EPA spokesperson said.

President-elect Donald Trump has vowed to rescind waivers granted by the EPA to California to require more EVs and tighter vehicle emissions standards.

California’s rules require 35% of vehicles in the 2026 model year to be a zero-emission model, rising to 68% by 2030. The state says the rule is crucial to meeting greenhouse gas emission reduction targets and cutting smog-forming pollutants.

The Alliance for Automotive Innovation, a trade group representing General Motors (NYSE:GM), Volkswagen (ETR:VOWG_p), Toyota Motor (NYSE:TM) and other automakers, said the “program will depress economic activity, increase costs and limit vehicle choice” and will require automakers to sell fewer vehicles in the 12 states to comply.

“Achieving the mandates will take a miracle. There needs to be balance and some states should exit the program,” the group wrote.

On Friday, the Supreme Court agreed to hear a bid by fuel producers to challenge the waiver California received in 2022 for vehicle emissions rules.

California, the most populous U.S. state, has received more than 75 waivers since 1967, requiring increasingly better emissions performance and EV sales.

The EPA in March 2022 reinstated a waiver for California to set its own tailpipe emissions limits and zero-emission vehicle mandate through 2025, reversing a 2019 decision under Trump’s first administration.

This post appeared first on investing.com

You May Also Like

Editor's Pick

Former president Donald Trump and his allies have filed hundreds of lawsuits, with more to come, seeking to tighten voting rules or disqualify voters....

Economy

LONDON (Reuters) – Bank of England interest rate-setter Megan Greene said she still believed the central bank should take a cautious approach to cutting...

Editor's Pick

Sister Stephanie Schmidt had a hunch about what her fellow nuns would discuss over dinner at their Erie, Pennsylvania, monastery on Wednesday night. The...

Latest News

Warner Bros. Discovery said Thursday its streaming platform Max added 7.2 million global subscribers in the third quarter. It marked the biggest quarterly growth for...

Disclaimer: beneficialinvestmentnow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 beneficialinvestmentnow.com

Exit mobile version