The White House has announced President Joe Biden will sign an Executive Order that sets an ambitious goal for EV adoption within the next nine years. By 2030, the Biden administration wants zero-emissions vehicles to represent half of all new sales. It's worth pointing out the target refers not only to pure EVs, but also plug-in hybrids and fuel-cell vehicles.

Although it's a nonbinding target, Ford, General Motors, and Stellantis have already issued a joint statement, welcoming the goal set by the Biden administration: "Today, Ford, GM, and Stellantis announce their shared aspiration to achieve sales of 40-50 percent of annual U.S. 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."

The Executive Order will also include establishing a "robust schedule" for stricter fuel economy standards concerning commercial vehicles, be them light-, medium-, or heavy-duty workhorses. The White House notes the Biden administration's goal is to start as early as the 2027 model year for medium- and heavy-duty vehicles and from the 2030 model year for light-duty vehicles.

The White House notes that if everything goes according to plan, it would put the United States on track to slash greenhouse gas emissions generated by passenger vehicles by more than 60 percent at the end of the decade compared to 2020 levels. That would pave the way for President Biden's greater goal of cutting greenhouse gas pollution by 50-52 percent in 2030 compared to 2005 levels.

Aside from the Big Three, other automakers have announced their support for President Biden's EV goal. These include Hyundai and Toyota, with the latter declaring the target is "great for the environment" and that the government "can count on Toyota to do our part." BMW, Ford, Honda, Volkswagen, and Volvo have all released a joint statement in which they "support the Administration's goal of reaching an electric vehicle future and applaud President Biden's leadership on reducing emissions and investing in critical infrastructure to achieve these reductions."

Revisions of former President Donald Trump's rollback of fuel economy and emissions standards are also on the agenda, with the EPA and USDOT targeting $140 billion in net benefits over the life of the program. These efforts will also save approximately 200 billion gallons of fuel, which equates to a reduction of around two billion metric tons of carbon pollution. Up to $900 in fuel savings over the vehicle's life are also promised.

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