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US finalizes lower vehicle fuel economy standards, reversing Biden push
The rollback is expected to support sales of gas-powered cars and trucks while weighing on demand for electric vehicles, according to OilPrice.
The US government finalized new lower vehicle fuel economy standards on Monday, reversing an earlier push by the Biden administration to build more fuel-efficient vehicles, according to OilPrice.
OilPrice reports the change is broadly seen as helping sales of gas-powered cars and trucks while coming at the expense of electric vehicles.
The Alliance for Automotive Innovation characterized the rollback as an “appropriate course correction” that aligns with fuel economy standards.
The new standards shift policy expectations for automakers facing decisions on vehicle fuel technology and manufacturing priorities, OilPrice said.