Biden's EV push: stricter emissions rules and standards.

The US Environmental Protection Agency (EPA) has proposed a plan to cut emissions for new cars and trucks through 2032, which could mean two out of every three new vehicles sold by automakers will be electric within a decade. The proposal requires 13% annual average pollution cuts and a 56% reduction in projected fleet average emissions over 2026 requirements. The EPA estimates the 2027-2032 model year rules would cut more than 9 billion tons of CO2 emissions through 2055. The proposal is more ambitious than President Joe Biden's 2021 goal, backed by automakers, seeking 50% of new vehicles by 2030 to be electric vehicles (EVs) or plug-in hybrids.