Carmakers not happy about proposed EPA targets
Carmakers including Stellantis (BIT:STLAM) and Toyota (TYO:7203) have reacted angrily to an EPA plan (first reported in our May issue) to impose stricter emissions targets on passenger vehicles. The plan would mean that 67% of all new cars sold by 2032 would have to be emission-free, and heavy trucks would be impacted too. Toyota suggested that the targets underestimate “key challenges, including the scarcity of minerals to make batteries, the fact that these minerals are not mined or refined in the US, the inadequate infrastructure and the high cost of battery-electric vehicles”. Ford (NYSE:F) has also encouraged the EPA to...