From Reuters via Yahoo Finance, March 19:
Automakers will get significantly more mileage credits for building electric vehicles to meet U.S. fuel economy requirements than U.S. regulators initially proposed, under final rules released Tuesday.
The rule means automakers will now be able to build more gas-powered vehicles through 2030 and still meet overall Corporate Average Fuel Economy requirements than under the tougher, initial Energy Department (DOE) proposal.
The DOE unveiled final rules that soften its proposal to slash electric vehicles' mileage ratings by 72% in 2027 to meet government fuel-economy requirements. The new rules ease revisions to the calculations and gradually phase them in through 2030, rather than by 2027.
DOE assigns miles per gallon equivalent (MPGe) ratings for electric vehicles that are averaged with internal combustion vehicles to meet an automaker's overall CAFE requirements.
The decision, first reported Monday by Reuters, is a win for the Detroit Three automakers, other major automakers and the United Auto Workers union that raised alarm that the proposal could have resulted in U.S. automakers facing $10.5 billion in CAFE fines through 2032 for not meeting fuel-economy requirements.
The final rule reduces the petroleum-equivalent EV fuel economy rating through 2030 and by 65% in total, giving automakers more time to adjust.
Under the prior proposal, General Motors would face $6.5 billion in fines, followed by Chrysler-parent Stellantis with $3 billion, and Ford $1 billion through 2032. The National Highway Traffic Safety Administration is set to proposal final revised CAFE rules this spring....
....MUCH MORE
It's only partial because those BYD and other Chinese EV-maker plants to be built in Mexico that Trump was talking about with the "bloodbath" line are still going to destroy Detroit. It will just take a little longer.
March 18This Will Be A Bloodbath: "Biden Set to Crack Down on Auto Emissions to Accelerate EV Sales"
The net effect of this order will be to give the Chinese the auto industry.*
Western Legacy Automakers Probably Won't Be Long-Term Survivors
Because their current business is being mandated and legislated out of existence the Western marques, barring some serious breakthroughs in small-scale hydrogen or methanol, will have to pivot to EV's.
And they won't be able to compete.
It almost appears that the gifting of the electric vehicle and solar industries to the Chinese was deliberate.
First up, from Electrical Engineering Times, December 6:
Experts See Rapid Rise of Chinese EV Makers...
And at Fortune, November 30:
In 2011, Elon Musk ridiculed the quality of electric vehicles made by China’s BYD. Then he admitted this May that “their cars are highly competitive these days.” Now, the Tesla CEO is amping up his praise of Chinese EV makers.
“The Chinese car companies are extremely competitive,” Musk said at this week’s New York Times Dealbook conference. “China is super good at manufacturing, and the work ethic is incredible.”
He even went so far as to suggest that the top 10 automakers of the future might be mostly Chinese ones—although he still envisions Tesla sitting atop them all.
“There’s a lot of people out there who think that the top 10 car companies are going to be Tesla followed by nine Chinese car companies,” he said at the conference. “I think they might not be wrong.”
In the case of BYD, its manufacturing prowess had long impressed Berkshire Hathaway vice chairman Charlie Munger, who passed away this week. While Berkshire generally steers clear of the auto industry—it declined to invest in Tesla—Munger led an enormously successful investment in BYD. He called the carmaker’s founder and CEO Wang Chuanfu a “natural engineer,” adding that “the guy at BYD is better at actually making things than Elon is.”
‘Demolish the old legends’....
