The US president signed an executive order setting a target that 50% of light-duty vehicles sold in the country from 2030 onwards will be zero-emission (electric, hybrid, and fuel cell). This will be a huge leap forward, considering that in 2020 only 2% of light-duty vehicles sold in the US market were electric. Although the order is not binding, it seeks to accelerate the transformation of the economy towards low emissions. The transportation sector is the main source of greenhouse gas emissions in the US.

The goal, however, is not far off from what some major manufacturers had already set. Ford announced a few months ago that it aims for 40% of its sales in 2030 to be electric vehicles, while General Motors plans to produce only electric vehicles starting in 2035. A key element to the success of the White House's plans is the massive expansion of charging stations for electric vehicles.

In total, the electric vehicle sales target and revised emissions standard would put the United States on track to reduce greenhouse gas emissions from new passenger vehicles by more than 60% in 2030 compared to 2020, according to the White House statement, which would facilitate the Biden administration's 50-year goal of a 52% net GHG reduction by 2030 (below 2005 levels).

Additional investment areas: The Biden administration also discussed its investment priorities to boost the adoption of electric vehicles in the US, which include: 1) a national network of public electric vehicle charging stations; 2) consumer incentives at the point of sale; 3) financing the refurbishment and expansion of the domestic manufacturing supply chain; and 4) investing in next-generation clean technologies. In the US, the latest bipartisan infrastructure framework proposes a $15 billion investment in electrification, including $7.5 billion for electric vehicle infrastructure (remember that the Biden administration has a goal of installing 500,000 new public charging points by 2030) and $7.5 billion for electric buses and public transportation.