Commodities and Futures News

Trump revokes Biden order that set 50% EV target for 2030

01/20/2025

Less than a minute

2025.01.20 19:57

© Reuters. FILE PHOTO: A charging handle recharges a Volkswagen ID.4 electric vehicle (EV) parked at an EV charging station inside a parking garage owned by the City of Baltimore, in Baltimore, Maryland, U.S., March 23, 2023. REUTERS/Bing Guan/File photo

WASHINGTON (Reuters) – President Donald Trump on Monday revoked a 2021 executive order signed by his predecessor Joe Biden that sought to ensure half of all new vehicles sold in 2030 were electric.

The 50% target, which was not legally binding, won the support of U.S. and foreign automakers. Trump also plans to direct agencies to reconsider rules mandating more stringent emissions rules that would require automakers to sell between 30% to 56% EVs by 2032 in order to comply.

01/20/2025

Less than a minute

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