General Motors has warned that the Biden administration's vehicle emissions rules could cost the auto industry $100 billion in penalties in 2031, and $300 billion over a five-year period, according to a document made public this week.
has warned that the Biden administration's vehicle emissions rules could cost the auto industry $100 billion in penalties in 2031, and $300 billion over a five-year period, according to a document made public this week.
GM executive David Strickland met on July 17 with White House Office of Management and Budget officials about the CAFE proposal and the automaker presented the slide, according to the White House website. NHTSA's plan will follow the Environmental Protection Agency's April proposal to toughen 2027-2032 standards, requiring a 56% emissions cut that would result in 67% of new vehicles by 2032 being EVs.
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