Major automakers are making changes backed by the Biden administration, pledging that half of all cars and light trucks sold in the U.S. by 2030 will be either electric, hydrogen-fuel cell, or plug-in hybrid vehicles.
General Motors Co., Ford Motor Co. , and Chrysler maker Stellantis NV will be aggressively pushing out cleaner fuel vehicles and stated that their green commitment will be contingent on federal funding for manufacturing and supply-chain research and development, purchase incentives, and a national electric vehicle charging network, the Wall Street Journal reports.
“This industry’s going to spend $330 billion over the next five years on electrification alone,” John Bozzella, president of the Alliance for Automotive Innovation, the lobbying group for auto makers and suppliers, said at a conference. “Even in Washington, D.C., that is real money.”
The auto company executives and the United Auto Workers attended a White House event Thursday afternoon where the Biden administration announced more stringent fuel-efficiency standards for the industry.
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