President Biden wants the auto industry to do better in terms of cutting pollution. An executive order he signed on Thursday laid out an ambitious target of 50% of the new vehicles sold in the United States to be electric by the year 2030.
White House to meet with the auto industry executives
The White House is meeting with executives from the industry leaders, including Ford Motor, Stellantis, and General Motors, to reflect on the policy. The discussion later today will also propose new rules related to vehicle emissions to minimise pollution through 2026.
In his interview with CNBC, Transportation Secretary Pete Buttigieg highlighted that the transportation sector was the biggest part of the U.S. economy, emitting greenhouse gases, with much of it coming from cars and trucks.
“We have got to act. This goal of getting half of our new vehicles to be electric within the decade is going to be urgently needed for us to meet the imperative of climate in our time,” he added.
Tesla isn’t invited to the White House for discussion
What’s strange is that the country’s largest electric vehicles manufacturer, Tesla Inc (NASDAQ: TSLA), wasn’t invited to the discussion at the White House. In his Tweet on Thursday, CEO Elon Musk said, “it seems odd that Tesla wasn’t invited,”, but Secretary Buttigieg didn’t offer any insight into why wasn’t it invited.
“I’m not sure why Tesla wasn’t invited, but you’re seeing so many industry leaders. It’s exciting to see the newer companies and the legacy companies, both saying we’ve got to move in this direction and acting in terms of the very core of their business to go electric. We’re moving toward a future where it applies across the market and not just for the cars you use to zip around cities,” he said on CNBC’s “Squawk Box”.
Tesla shares are almost flat on Thursday morning.
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Wajeeh Khan
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