US shifts fuel-economy goals, de-emphases importance of electric cars

AutoExec Summary

The US Biden administration has relaxed Corporate Average Fuel Economy (CAFE) standards, allowing carmakers to meet 2030 targets with fewer electric vehicles. The standards aim at reducing fuel consumption, with the current target being 5.5 litres per 100km for passenger cars. General Motors, Stellantis, and Ford faced fines for not meeting CAFE standards. In Australia, a New Vehicles Emissions Standard (NVES) is proposed to assess emissions. The FCAI opposes NVES, fearing higher vehicle prices. EV makers like Tesla and Polestar have left FCAI due to differing views. The Climate Council and Electric Vehicle Council support NVES.

Brands mentioned: General Motors, Stellantis, Ford, Tesla, Polestar