Biden to Set Goal of 50% Electric Vehicles Sales by 2030 on Thursday, White House Says

WASHINGTON (Sputnik) – The US President Joe Biden later in the day will sign an executive order setting a new goal of reaching at least 50 percent of electric vehicles sales share by 2030, the White House said on Thursday.

"The President will sign an Executive Order that sets an ambitious new target to make half of all new vehicles sold in 2030 zero-emissions vehicles, including battery electric, plug-in hybrid electric, or fuel cell electric vehicles," White House said in a release.

The new executive order will also pave the way for the development of long-term fuel efficiency and emissions standards which are expected to deliver around $140 billion in net benefits, save nearly 200 billion gallons of gasoline, and provide average net consumer benefits of up to $900 during the life of the vehicle in fuel savings, the release said.

The new program is in line with Biden’s commitment to put climate change at the front and centre of his administration, setting an ambitious goal to cut greenhouse gas emissions by 50 percent from 2005 levels by the end of this decade. Biden has also pushed for electric vehicle charging stations, offshore wind development and other clean energy production.

In 2020, a total of 761,000 hybrid electric, plug-in hybrid-electric, and electric vehicles were sold in the US, less than half a percent of the total number of vehicles sold, according to the Bureau of Transportation Statistics.