California Asks For EPA Approval To Ban Gasoline-Only Vehicles By 2035: Report

Comments
Loading...
  • The U.S. state of California has asked the government to approve its plan that will see new vehicles sold in the state by 2035 to be either electric or hybrid.
  • If the approval is made, it could accelerate the end to gasoline-powered vehicles, reported Reuters.
  • The California Air Resources Board (CARB) had approved the plan in August 2022 and asked the Environmental Protection Agency (EPA) on Monday to sanction a waiver under the Clean Air Act.
  • "These vehicles will permanently displace emissions from conventional vehicles," the report quoted CARB Executive Officer Steven Cliff.
  • According to an EPA proposal to reduce vehicle emissions through 2032, automakers are expected to make 60% EVs by 2030 and 67% by 2032.
  • Only 5.8% of U.S. vehicles sold in 2022 were electric vehicles.
  • The report noted California's zero-emission rules will cut by 25% smog-causing pollution from light-duty vehicles by 2037. 
  • A growing number of U.S. states, including Washington, Rhode Island, Virginia, Vermont, Oregon, New York, and Massachusetts, adopted tighter electric vehicle rules than the one proposed by the Biden administration.
  • Photo Via Company
Overview Rating:
Speculative
50%
Technicals Analysis
66
0100
Financials Analysis
40
0100
Overview
Market News and Data brought to you by Benzinga APIs

Posted In:
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!