US President Joe Biden signed an executive order to target 50% of all new automobiles sales in the country to be electric by 2030. The announcement is part of Biden’s $1.2 trillion infrastructure bill that will be tabled in the Senate this week, and is expected to make available $15 billion in funding for EV charging points and electric buses. The major decision is also expected to save 200 billion litres of gasoline from being burned and avoid 2 billion tonnes of CO2 from being released into the atmosphere.
The push for electrification comes as part of the Biden administration’s efforts for the US to catch up with the rest of the world in EV sales—particularly China—but the signing ceremony curiously did not have representation from the most popular EV manufacturer, Tesla.
Russia plans to subsidise 25% of EV purchase cost
The government of Russia announced that it would subsidise 25% of the purchase cost of any domestically manufactured electric vehicle, up to 625,000 rubles (~$8,570), in order to boost the share of EVs in its transport fleet. So far, the country only has 11,000 EVs (out of 45 million cars), but the country is a signatory to the Paris Agreement and is aiming to reduce its emissions to 70% of 1990 levels by 2030. Russia is also a major oil and gas producer, but is now targeting the sales of 220,000 EVs by 2030, and foreign players are reportedly keen to start production in the country.
India may slash EV import duties by up to 40% after all
After recent news that the Indian government had refused to lower its import duties for fully built electric cars, a new report from Reuters indicated that the government might after all lower them by up to 40%. This would mean that a car worth up to $40,000 would have its duties dropped from 60% to 40%, while a costlier car would have its duties reduced from 100% to 60%. The news is not confirmed yet, as Reuters’ sources did not wish to be identified, but it comes soon after Tesla and even VW having requested a scale-back of the duties to make their EVs more affordable for the Indian customer.