Breaking News: United US auto industry pledges 50% EV penetration

The US auto industry is making a concerted push - with the Biden administration’s support - to reach 40-50% EV penetration by 2030, Kallanish reports.

Lesedauer: min

On the back of an executive order supporting the industry-wide push, a truckload of US auto figures pledged their support to creating a robust EV industry in the US.

“Today, Ford, GM and Stellantis announce their shared aspiration to achieve sales of 40-50% of annual US volumes of electric vehicles (battery electric, fuel cell and plug-in hybrid vehicles) by 2030 in order to move the nation closer to a zero-emissions future consistent with Paris climate goals,” according to a rare joint statement from the Detroit Big Three. “This represents a dramatic shift from the US market today that can be achieved only with the timely deployment of the full suite of electrification policies committed to by the administration in the Build Back Better Plan, including purchase incentives, a comprehensive charging network of sufficient density to support the millions of vehicles these targets represent, investments in R&D, and incentives to expand the electric vehicle manufacturing and supply chains in the United States.”

United Auto Workers president Ray Curry says the US is slipping behind its competitors in the EV race; it’s now-or-never time for the industry.

“We are falling behind China and Europe as manufacturers pour billions into growing their markets and expanding their manufacturing. We need to make investments here in the United States,” he says. “Fortunately, President [Joe] Biden recognizes the importance of this moment, and his Build Back Better Plan makes the bold investments in manufacturing, consumer incentives, and infrastructure needed to ensure vehicles of the future are made in our country. Investments alone are not enough.”

BMW, Ford, Honda, Volkswagen, and Volvo also issued a joint statement, praising California for providing the base for President Biden’s climate initiatives.

“While the California framework companies are driving towards 40-50% of our sales being EVs in the next nine years, bold action from our partners in the federal government is crucial to build consumer demand for electric vehicles and put us on track to achieve the global commitments of the Paris Climate Agreement,” the companies say.