The U.S. Environmental Protection Agency has recommended delaying a scheme that would give electric vehicle (EV) manufacturers tradable credits under a federal biofuel program, in a final rule that the White House will now review, two sources familiar with the matter said.
first reported in early May that the EPA was considering the delay over concerns the plan could trigger lawsuits.
The November proposal foresaw EV manufacturers could generate as many as 600 million credits in 2024 and 1.2 billion of them by 2025. Prices for an equivalent cellulosic biofuels credit have traded at $2.14 each on Tuesday, traders said. The Biden administration is still hopeful it will pass a final rule on the EV program before the end of the year, even if it is uncoupled from the annual blending mandates, the two sources told Reuters.
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