Biden Seeks to Accelerate EV Adoption with Stricter Vehicle Emission Rules

• Biden administration expected to finalize regulations this week targeting gas vehicle emissions to boost electric vehicle adoption

• Rules would require automakers to expand electric options more rapidly, with projections for 67% of sedan/SUV purchases being electric by 2032

• Industry groups argue regulations will restrict consumer choice and access to affordable gas vehicles while increasing costs

• Average EV costs $52k even with subsidies, while average gas subcompact is $24k; only 9.3% of 2022 car purchases were electric

• Regulations face pushback from lawmakers concerned about impacts on families; House passed resolution to nix EPA proposal in December