Half of all cars sold in America to run on electricity by 2030 under European-style rules.

Joe Biden has announced new rules that will see as many as half of all cars sold in America run on electricity by 2030.

The US President on Wednesday moved to adopt strict European-style tailpipe emission rules. The finalised regulations will require manufacturers to drastically cut the amount of carbon dioxide (CO2) emitted from cars and trucks from 2027 through to 2032. The Telegraph has the story,

The rules will trigger a seismic shift in the US, a country dominated by cars and one where the price of gas is used as a barometer for household finances.

Battery EVs currently make up less than 8pc of sales, while plug-in hybrids represent just 2pc.

The President last year announced an ambition of electric vehicle (EV) sales reaching 50pc of all purchases by 2030.

However, the finalised targets have been softened after a backlash from unions and carmakers.

The changes unveiled by the President on Wednesday are “technology-neutral”, meaning emissions can be reduced through a combination of both higher EV and plug-in hybrid sales. The pace at which manufacturers must shift has also been softened in the run up to 2030.

John Bozzella, president of the Alliance for Automotive Innovation, said: “These adjusted EV targets – still a stretch goal – should give the market and supply chains a chance to catch up.

“It buys some time for more public charging to come online and the industrial incentives and policies of the Inflation Reduction Act to do their thing.”

Read the full story here.