- The Alliance for Automotive Innovation representing vehicle manufacturers including, General Motors Company GM, Honda Motor Co Ltd HMC, Volkswagen AG VWAGY and Toyota Motor Corp TM has expressed concerns regarding U.S. emissions targets.
- The association warned that the targets for vehicle emissions reductions are aggressive and can lead to challenges in manufacturing and supply chains, reported Reuters.
- The target could also mean a swift transition to electric vehicles (EVs).
- The U.S. Environmental Protection Agency's (EPA) proposed emissions cuts are expected to result in 60% of new vehicles by 2030 being electric and 67% by 2032.
- "In that context, EPA's proposed greenhouse gas standards for 2027-2032 represents a significant movement of the country's electrification goal posts – not by a little, but by a lot," the report quoted the automaker group.
- The automotive group noted that the automakers will struggle to meet targets because of the supply chain snarls that make it challenging to procure EV batteries, motors and chargers.
- Photo Via Company
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
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!
Already a member?Sign in