The new Environmental Protection Agency rule aims to significantly cut carbon emissions from vehicles by 2055, avoiding up to 2,500 premature deaths annually.
Despite a slight slowdown in EV sales, 2023 saw a record 1.2 million EVs sold in the U.S., signaling strong market growth.
The regulation faces opposition from Republican states and the fossil fuel industry, while automakers receive more time to meet EV sales targets.
Key quote:
"Our final rule delivers the same — if not more — pollution reduction than we set out at proposal."
With a dramatic decline in lithium prices over the last year, companies are putting projects on hold, even as the Biden administration is trying to juice domestic mining and processing sector for critical minerals.
Republicans and some Democrats tried to repeal a waiver issued by the Biden administration that allows federally funded E.V. chargers to be made from imported iron and steel.
