President Biden sets national goal of 50% electric vehicle sales by 2030

Photo (c) Greg Pease - Getty Images

Major automakers have said they share the administration’s aspirations

President Biden has announced a new goal of having electric vehicles account for half of all auto sales in the United States by 2030.  Biden signed an executive order on Thursday morning focused on accelerating the adoption of EVs.

Although compliance with the new national sales target won’t be mandatory, Ford, GM, and Stellantis (parent company of Chrysler) have all said they support the administration’s aspiration..

"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," the automakers said in a joint statement. "We look forward to working with the Biden Administration, Congress and state and local governments to enact policies that will enable these ambitious objectives."

Officials from the auto companies are set to attend an event at the White House later today to speak on the matter.

Promoting EV adoption

Administration officials said making strides towards increasing the number of EVs on the road will serve as a job stimulator for American manufacturing, which will support the president’s "Build Back Better Agenda.” 

“A strong vision from President Biden, along with these significant investments, will help ensure lots of high-paying manufacturing jobs here in America to produce zero-emitting vehicles—vehicles that will then save their owners thousands of dollars on gas,” said Fred Krupp, the president of the Environmental Defense Fund. 

Earlier this summer, analysts at IHS Markit said electric vehicles were poised to account for around 25% to 30% of new vehicle sales by 2030. They said that number would grow to 45% to 50% by 2035. President Biden's executive order is expected to encourage the auto industry and government to promote legislation and push for the widespread adoption of electrified vehicles. 

“California applauds the Biden Administration’s move to boldly reduce climate pollution from cars, inspired by California’s nation-leading framework," California Governor Gavin Newsom said in a statement. "The climate emergency demands no less."

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