The big three traditional automakers in the US -- Ford, GM and Stellantis have together announced their intention to have 40 per cent to 50 per cent of their sales be of EVs by the end of 2030, which in line with an upcoming executive order that's being proposed by the Biden administration.
All three automotive majors have announced bold investments to accelerate the adoption of electric vehicles with Stellantis being the latest entrant announcing big bets last month. Ford has set a goal of 40 per cent sales to be of all-electric vehicles by the end of 2030 while GM has said that it aspired to be a fully electric car maker by the end of 2035. Stellantis also said that it expected 40 per cent of its sales in the US to be low emissions vehicles by 2030.
The Biden administration has been pushing for the wide adoption of EVs
"Today, Ford, GM and Stellantis announce their shared aspiration to achieve sales of 40-50% of annual U.S. volumes of electric vehicles (battery electric, fuel cell and plug-in hybrid vehicles) by 2030 in order to move the nation closer to a zero-emissions future consistent with Paris climate goals. Our recent product, technology, and investment announcements highlight our collective commitment to be leaders in the U.S. transition to electric vehicles. This represents a dramatic shift from the U.S. market today that can be achieved only with the timely deployment of the full suite of electrification policies committed to by the Administration in the Build Back Better Plan, including purchase incentives, a comprehensive charging network of sufficient density to support the millions of vehicles these targets represent, investments in R&D, and incentives to expand the electric vehicle manufacturing and supply chains in the United States. With the UAW at our side in transforming the workforce and partnering with us on this journey, we believe we can strengthen continued American leadership in clean transportation technology through electric vehicle innovation and manufacturing. We look forward to working with the Biden Administration, Congress and state and local governments to enact policies that will enable these ambitious objectives," the three automotive majors announced together as they plan on catching up to Tesla.
undefinedWhen I say electric vehicles are the future, I'm not joking. Tune in for big news tomorrow. pic.twitter.com/riIClqPYnw
— President Biden (@POTUS) August 5, 2021
The Biden administration has already pushed for a $15 billion investment towards electric vehicles infrastructure and transit which is a part of the bill currently being pushed through the legislative process. There is a plan to also reform the EV incentive process which gives a tax credit of $7,500 on the purchase of some electric vehicles. This number could be increased to $10,000 and the minimum requirement of 200,000 US deliveries could be removed.
