DIRS.INFO The most relevant business & tech news

☆ What investors should know about the U.S. easing vehicle emissions rules
▼ + stars: | 2024-03-23 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

President Joe Biden speaks at the United Auto Workers political convention at the Marriott Marquis in Washington, D.C., Jan. 24, 2024. The new Environmental Protection Agency rules released Wednesday aim to cut tailpipe emissions by 49% between model years 2027 and 2032. The EPA set a target for EVs to make up at least 35% of new vehicle sales by 2032. The EPA's new strategy for cutting tailpipe emissions doesn't focus only on EVs. The EPA's percentage targets for EV adoption are not mandates but expectations for how automakers could meet the emissions regulations.

Persons: Joe Biden, Saul Loeb, Biden, Emmanuel Rosner, Mary Barra, Ngan, John Bozzella, Stocks, Tesla, weren't, Chelsea Hodgkins, Martin Viecha, Chris Kapsch, Morgan Stanley, Adam Jonas Organizations: United Auto Workers, Marriott Marquis, Washington , D.C, AFP, Getty, DETROIT, Environmental Protection Agency, EPA, EV, Detroit Automotive, Wall Street, Detroit, General Motors, Ford Motor, Chrysler, capex, Deutsche Bank, Chevrolet Silverado, Huntington Place Convention, Afp, Alliance for Automotive Innovation, United Auto Workers union, UAW, Toyota, Public Citizen, Sierra Club, Democratic, GM, Ford Locations: Washington ,, Detroit , Michigan, U.S, Detroit, Michigan

☆ Biden slows his timeline for the shift to EVs in a compromise with unions concerned about jobs
▼ + stars: | 2024-03-20 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +5 min

President Joe Biden is giving automakers more time to ramp up sales of electric vehicles, following pressure from the industry and labor unions concerned about a rapid transition to EVs. Cars are the single-largest source of greenhouse gas emissions. Still, the United Auto Workers worries that a rapid shift to EVs will cost jobs because EV manufacturing requires fewer assembly parts. Pacing EV adoptionThe tailpipe rules land as the EV market hits some bumps in the road. AdvertisementStill, analysts predict that EV sales will continue to push higher, thanks to newer models at more affordable prices and the continued build-out of charging stations.

Persons: Joe Biden, —, John Bozzella, Kelley, Power, Albert Gore, Tesla Organizations: Service, Environmental Protection Agency, Wednesday, Business, United Auto Workers, UAW, Alliance for Automotive Innovation, Ford, General Motors, Zero Emissions Transportation Association, EV, EPA, Research Locations: United States

☆ Biden administration to reportedly relax EV rule on tailpipe emissions
▼ + stars: | 2024-02-18 | by ( ) www.cnbc.com time to read: +2 min

U.S. President Joe Biden answers questions from reporters after driving a Jeep Wrangler Rubicon Xe around the White House driveway following remarks during an event on the South Lawn of the White House August 5, 2021 in Washington, DC. The shift would mean that EV sales would not need to rise sharply until after 2030. Reuters previously reported that the White House could enact proposed Environmental Protection Agency regulations as soon as March that would mandate dramatic reductions in tailpipe emissions. The administration proposal would require boosting U.S. EV market share to 67% by 2032 from less than 8% in 2023. Automakers and the AAI have urged the Biden administration to slow the proposed ramp-up in EV sales.

Persons: Joe Biden, Biden, Joe Biden's, John Bozzella, Bozzella, Stellantis Organizations: New York Times, Alliance for Automotive Innovation, Reuters, Agency, EV, General Motors, Ford, AAI Locations: Washington , DC, U.S

☆ New US rules on Chinese batteries could push up price of electric cars
▼ + stars: | 2023-12-04 | by ( Michelle Toh | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —The US government has announced new regulations that aim to keep Chinese batteries out of cars sold in the United States, a move that could push up the price of electric vehicles for American drivers. China is the world’s leader in EV battery production, dominating almost “every stage of the EV battery supply chain,” according to a 2023 report by the International Energy Agency (IEA). Tesla is a longtime customer of China’s CATL, the world’s largest EV battery maker. Doubling downThe new measures add to existing efforts by Washington to redirect auto manufacturing to the United States. “Financial incentives play an important role in the widespread adoption of electric vehicles,” researchers at George Washington University found in a 2022 study.

Persons: Biden, ” John Podesta, “, John Bozzella, ”, Tesla, China’s CATL, CATL, Jeff Kowalsky Organizations: Hong Kong CNN, EV, International Energy Agency, US Treasury, Internal Revenue Service, Department of Energy, Treasury, Officials, IEA, “, Alliance, Automotive Innovation, Ford, Getty, George Washington University, ” China’s Ministry of Foreign Affairs Locations: Hong Kong, United States, China, Russia, North Korea, Iran, America, Michigan, Washington, North America, Dearborn , Michigan, AFP, Europe, Beijing

It’s still not clear which vehicles would be eligible for the full $7,500 tax credit under the new rules because the government has yet to publish any lists. But they are still years away from being able to produce an electric vehicle without materials and components from China. Sam Abuelsamid, a mobility analyst for Guidehouse Insights, expects many EVs now eligible for the full $7,500 U.S. tax credit will see that cut in half next year when the new regulations take effect. Getting the tax credit upfront — rather than waiting until filing tax returns next year — “will actually reduce your monthly payment, which is a major stumbling block for consumers,” he said. Adeyemo and other officials declined to say whether batteries from the Ford plant would qualify for tax credits.

Persons: —, Biden, Joe Biden's, It’s, Wally Adeyemo, David Turk, Adeyemo, Turk, John Bozzella, Sam Abuelsamid, EVs, Abuelsamid, — “, ”, Joe Manchin, Manchin, Janet Yellen, Ford, Tom Krisher Organizations: WASHINGTON, Treasury, Energy, EV, Administration, “, Motors, Hyundai, Ford, GM, Alliance for Automotive Innovation, Guidehouse, Democratic, Natural Resources Committee, Ford Motor Co, Amperex Technology, Associated Press Locations: U.S, China, United States, North Korea, Russia, Iran, North America, Michigan, Detroit

☆ Automakers oppose Cleveland-Cliffs push to buy U.S. Steel
▼ + stars: | 2023-10-31 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

U.S. Steel Edgar Thompson Works is seen in Braddock, Pennsylvania, U.S. November 4, 2022. REUTERS/Quinn Glabicki/File Photo Acquire Licensing RightsWASHINGTON, Oct 31 (Reuters) - A group representing major automakers on Tuesday said the industry opposes steelmaker Cleveland-Cliffs' (CLF.N) proposed acquisition of U.S. Steel (X.N), saying it would increase auto industry costs and slow electric vehicle sales. U.S. Steel in August rejected Cleveland-Cliff's proposed $7.25 billion price. Cleveland-Cliffs CEO Lourenco Goncalves last week during an earnings call declined to discuss the issue, citing restrictions. In August, U.S. Steel said it had entered into confidentiality agreements with "numerous third parties" and started to review multiple unsolicited proposals ranging from partial acquisition to an entire buyout.

Persons: Steel Edgar Thompson, Quinn Glabicki, John Bozzella, Lina Khan, Jonathan Kanter, Cliff's, Lourenco Goncalves, David Shepardson, Nick Zieminski Organizations: REUTERS, Rights, U.S . Steel, Alliance, Automotive Innovation, General Motors, Toyota, Volkswagen, Hyundai, Federal Trade Commission, Justice Department Antitrust, . Steel, Cliffs, Steel, Thomson Locations: Braddock , Pennsylvania, U.S, Cleveland

☆ DOT proposes new car standards that would modestly raise fuel economy and push the sale of EVs
▼ + stars: | 2023-07-28 | by ( Gregory Wallace | ) edition.cnn.com time to read: +3 min

CNN —The Biden administration on Friday proposed modest increases to fuel efficiency standards for the vehicles most Americans drive. The proposal fits alongside the administration’s push for increasing the share of electric vehicles on the roads. A nearly 700-page document outlined the potential options, including the administration’s proposal for increasing car fuel efficiency standards annually by 2% for cars and 4% for light trucks. The Environmental Protection Agency, which calculates the fuel economy estimates shown on vehicle window stickers, uses different tests that result in more realistic estimates. Soon after taking office, the Trump administration re-wrote the more stringent Obama administration’s proposal.

Persons: CNN —, Biden, that’s, Chris Harto, John Bozzella, ”, Dan Becker, Harto, Pete Huffman, Trump Organizations: CNN, US Department of Transportation, Environmental Protection Agency, Consumer, EPA, Alliance for Automotive Innovation, Center for Biological, Natural Resources Defense Council, Democratic, Republican, Obama

☆ U.S. proposes 18% fuel economy increase for new vehicles by 2032
▼ + stars: | 2023-07-28 | by ( ) www.cnbc.com time to read: +3 min

The U.S. government wants to raise the fuel economy of new vehicles 18% by the 2032 model year so the fleet would average about 43.5 miles per gallon in real world driving. The highway safety agency says it will try to line up its regulations so they match the Environmental Protection Agency's reductions in greenhouse gas emissions. In the byzantine world of government regulation, both agencies essentially are responsible for setting fuel economy requirements since the fastest way to reduce greenhouse emissions is to burn less gasoline. The EPA says the industry can reach the greenhouse gas emissions goals if 67% of new vehicles sold in 2032 are electric. Automakers can meet the requirements with a mix of electric vehicles, gas-electric hybrids and efficiency improvements in gas and diesel vehicles.

Persons: Joe Biden, Donald Trump, Ann Carlson, Stellantis, John Bozzella, EVs, NHTSA's Organizations: National, Traffic Safety Administration, NHTSA, General Motors, Toyota, Ford, Alliance for Automotive Innovation, EPA Locations: mufflerof, Orlando , Florida, The U.S

☆ US lawmakers struggle to find deal on self-driving cars
▼ + stars: | 2023-07-26 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, July 26 (Reuters) - Congress still faces serious hurdles to winning approval for long-stalled legislation to speed the adoption of self-driving cars. Republicans and some Democrats want fast action, raising concerns that China could surpass the United States in deploying cars without human drivers. Autonomous vehicle legislation in Congress has been stalled for more than six years. Proposals would allow automakers to obtain exemptions to deploy tens of thousands of vehicles without meeting existing auto safety standards. The National Highway Traffic Safety Administration said on July 12 it will soon decide on a petition filed by General Motors' (GM.N) Cruise self-driving technology unit seeking permission to deploy up to 2,500 self-driving vehicles annually without human controls, the maximum permitted under current law.

Persons: Cathy McMorris Rodgers, Frank Pallone, John Samuelsen, John Bozzella, David Shepardson, Bernadette Baum Organizations: Energy, Commerce, Communist Party, Workforce, Traffic Safety Administration, General Motors, Transport Workers Union, Alliance, Automotive Innovation, Thomson Locations: China, United States

☆ US House panel looks to revive stalled self-driving legislation -sources
▼ + stars: | 2023-07-19 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, July 19 (Reuters) - A U.S. House of Representatives panel will hold a July 26 hearing as lawmakers look to jump start long-stalled efforts to pass legislation to speed adoption of self-driving cars. The Energy Commerce subcommittee on Innovation, Data, and Commerce confirmed to Reuters it was holding a hearing titled “Self-Driving Vehicle Legislative Framework: Enhancing Safety, Improving Lives and Mobility, and Beating China." The panel will consider separate draft legislation from Representative Bob Latta, a Republican and Representative Debbie Dingell, a Democrat. In order to ensure Americans can reap the benefits of self-driving vehicles, we must enact a comprehensive national law that establishes a pathway to safe deployment". Last week, the National Highway Traffic Safety Administration said it would soon decide on a petition filed by General Motors' (GM.N) Cruise self-driving technology unit seeking permission to deploy up to 2,500 self-driving vehicles annually without human controls.

Persons: Bob Latta, Debbie Dingell, Cathy McMorris Rodgers, Gus Bilirakis, John Bozzella, Gary Shapiro, Mark Riccobono, Pete Buttigieg, David Shepardson, Chris Reese, Alex Richardson Organizations: U.S . House, Energy, Innovation, Commerce, Reuters, Mobility, Republican, House Energy, Alliance, Automotive Innovation, Consumer Technology, National Federation of, Blind, Traffic Safety Administration, General Motors, Thomson Locations: America, China

☆ Auto-Industry Group Assails Biden’s Plan to Electrify America’s Cars
▼ + stars: | 2023-06-28 | by ( Coral Davenport | ) www.nytimes.com time to read: +3 min

But last year, all-electric vehicles accounted for just 5.8 percent of new cars sold in the United States. The Environmental Protection Agency published its proposed rule earlier this spring and it is in the process of soliciting public comments ahead of finalizing and implementing the rule by the first half of next year. But his administration took the auto industry by surprise this spring with the proposed rule that went considerably further. Biden administration regulators are expected to weigh public comments before revising and finalizing proposals. In a blog post, John Bozzella, the president of the group, suggested that the Biden administration include plug-in hybrid vehicles in its target, rather than pushing for such rapid adoption of all-electric vehicles.

Persons: Biden, Barack Obama, Donald J, Trump, John Bozzella Organizations: Environmental Protection Agency, Obama, Biden, White Locations: United States, Michigan, Ohio, Washington

☆ Automaker group urges US EPA to 'ease up' on vehicle emissions rules
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, June 12 (Reuters) - The head of a trade group representing nearly all major automakers urged the U.S. Environmental Protection Agency to "ease up" on its aggressive proposal to sharply cut vehicle emissions through 2032, saying it could benefit China. Alliance for Automotive Innovation CEO John Bozzella said Monday the "EPA should ease up and reassess this rule before it helps cement China’s place in the U.S. auto market." He predicted that if the EPA regulations are too tough, China will gain "a stronger foothold in America’s electric vehicle battery supply chain and eventually our automotive market." Reporting by David Shepardson; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: John Bozzella, David Shepardson, Jonathan Oatis Organizations: U.S . Environmental Protection Agency, China, Alliance, Automotive Innovation, Thomson Locations: U.S, China

WASHINGTON, April 12 (Reuters) - The Biden administration's proposal on Wednesday to sharply cut tailpipe emissions and vehicle pollutants is on a fast track as the future of U.S. auto production could become a presidential campaign issue next year. Under Trump, the EPA reversed that decision and rolled back the Obama standards, a move that would have increased U.S. oil consumption by about 500,000 barrels per day by the 2030s. Biden, a self-proclaimed "car guy," will accelerate the adoption of zero-emission vehicles, the White House said on Wednesday. The EPA rules are also crucial to meeting the administration climate goals. Biden has said he intends to be the Democratic candidate for president in 2024 but has not made a formal announcement.

☆ U.S. proposes 56% vehicle emissions cut by 2032, requiring big EV jump
▼ + stars: | 2023-04-12 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

The proposal, if finalized, represents the most aggressive U.S. vehicle emissions reduction plan to date, requiring 13% annual average pollution cuts and a 56% reduction in projected fleet average emissions over 2026 requirements. The EPA is also proposing new stricter emissions standards for medium-duty and heavy-duty trucks through 2032. The proposal is more ambitious than President Joe Biden's 2021 goal, backed by automakers, seeking 50% of new vehicles by 2030 to be electric vehicles (EVs) or plug-in hybrids. Dan Becker, director of the Safe Climate Transport Campaign, said the EPA proposal should have been tougher. Medium-duty vehicle rules are projected to cut emissions by 44% over 2026.

WASHINGTON, March 31 (Reuters) - The U.S. Treasury Department on Friday unveiled stricter electric vehicle tax rules that will reduce or cut tax credits on some zero-emission models but grant buyers another two weeks before the new requirements take effect. The EV battery sourcing guidance issued on Friday triggers new requirements for critical minerals and battery components and takes effect for vehicle purchases starting April 18. The government will publish by April 18 a revised list of qualifying models and tax credit amounts. The $430 billion Inflation Reduction Act (IRA) signed by Biden in August eliminated manufacturer's EV sales caps but imposed new conditions on EV credits. Republican Senator Marco Rubio introduced legislation this month seeking to block EV tax credits for batteries produced using Chinese technology, saying it would "significantly restrict the eligibility of IRA tax credits and prevent Chinese companies from benefiting."

☆ You only have until April 17 to get a hot deal on an electric car before stricter tax credit rules go into effect, making some models ineligible
▼ + stars: | 2023-03-31 | by ( Alexa St. John | Tim Levin | ) www.businessinsider.com time to read: +4 min

The US has provided more detailed information on whether certain EVs will qualify for tax credits. The new rules will halve the current credit amount for certain models and disqualify others. The new rules halve the credit amount for certain models and disqualify others entirely, so it could pay to act 3ast. Starting on April 18, the EV tax credit will be split into two halves. "In fact, this period may go down as the highwater mark for EV tax credit eligibility since the IRA passed last year."

☆ Tesla gets a big tax credit win as rules Elon Musk called 'messed up' get changed to include more vehicles
▼ + stars: | 2023-02-03 | by ( Tim Levin | ) www.businessinsider.com time to read: +3 min

The US government walked back a controversial part of the new electric-car tax credit. The rule change means that more electric SUVs from Tesla and others qualify for the $7,500 incentive. Under the new federal EV tax credit included in Democrats' Inflation Reduction Act, it matters quite a lot, actually. On Twitter, Tesla CEO Elon Musk called the rules "messed up" and "bizarre." The seven-seat Tesla Model Y qualified for the $80,000 price cap, while the five-seat model did not.

Search resuls for: "Bozzella"

17 mentions found