New EPA emissions rules vs Messy week in EV auto news

The EPA released new tailpipe emission targets while auto manufacturers gave very mixed signals about their plans.
March 22, 2024
From Unsplash
  • Automakers BMW, Volkswagen, and Renault are pushing back against the European Union’s emission targets, arguing that consumers are not buying EVs fast enough and the pressure on the industry is too high.
  • The EU will require a 25% reduction of fleet emissions from new passenger cars sold in Europe by 2025 compared to 2021 figures, with steep fines for non-compliance.

  • American automakers are preparing for competition from affordable EVs like the Seagull
  • Ford and GM are shifting plans to focus on smaller, more affordable EV models

  • The goal is for the next generation of EVs to reach the same profitability level as BMW’s internal combustion engine cars.
  • BMW is investing heavily in its Neue Klasse platform and next-generation technology to achieve this goal.

  • General Motors is providing reimbursements to customers who purchased the Chevrolet Blazer EV before a recent price cut, with refunds ranging from $5,620 to $6,520.
  • The Blazer EV had a rocky start, initially pulled from the market due to software issues but reintroduced with lowered prices in early March.

  • EPA announced new emissions standards to slash tailpipe pollution and accelerate transition to electric vehicles
  • Proposal could result in 67% of new light-duty vehicle sales and 46% of new medium-duty vehicle sales being electric by 2032
  • Automakers would need to produce 60% EVs by 2030 and 67% by 2032 to meet requirements
  • Proposal represents the strongest effort by regulators to boost EV sales and phase out internal combustion engines
  • The oil and gas industry is unhappy with the new standards

“The administration will need to move fast to finalize the rules in order to make it more difficult for a future Congress or president to reverse them. Environmentalists and industry officials predict the new standards will go into effect in early 2024.”

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