The U.S. Environmental Protection Agency (EPA) announced on Wednesday that it is starting the process to reverse dozens of Biden administration rules, including vehicle emissions standards.
What Happened: The EPA revealed its intention to reassess the 2024 regulations that sought to cut passenger vehicle emissions by nearly 50% by 2032. These regulations projected that between 35% to 56% of new vehicles sold from 2030 to 2032 must be electric, a standard supported by Ford Motor Co. (NYSE:F).
Moreover, the EPA is reviewing a 2022 regulation concerning emissions from heavy-duty trucks, citing increased costs as a concern. The 2022 standards …