The Environmental Protection Agency (EPA) on Wednesday proposed stringent tailpipe emissions limits that would ensure 67% of all new vehicles sold in the country are electric by 2032.
The new emissions limits by the EPA align with President Joe Biden’s clean energy transition goals to have electric vehicles (EVs) make up ~50% of new vehicles sold by 2030.
Automakers are skeptical
While they agree that EVs are the future, automakers say the Biden administration needs to consider hindrances posed, like lack of charging stations, consumer preference for combustion engine vehicles, affordability and supply-chain issues.
A recent Gallup poll shows that 41% of US adults said they would not buy an EV, while 43% say they might consider one. Just 12% said they would opt for fully electric vehicles.
Price is a huge factor for many consumers. As of March, the average transaction price for an EV stood at $61,800, whereas vehicles with internal combustion engines cost an average of $45,600, according to research company JD Power.
But
If the proposal is adopted, Americans could save up to $1.1 trillion on gasoline prices, says the agency. The agency predicts an additional $280 billion to $580 billion in savings on vehicle maintenance.
This means those who purchase EVs will pay a higher price upfront, but it will eventually cancel out by saving money on gas and maintenance.
EV sales in 2022 accounted for only 5.8% of the 13.8 million new vehicles sold in the country.