Five automakers set 2030 EV target

Five auto manufacturers with assembly operations in the United States have issued a statement saying they will work with the federal government to strive to have from 40 to 50 percent of the vehicles they make in the U.S. be electric vehicles (EVs) by 2030.

The five companies—BMW, Ford, Honda, Volkswagen and Volvo Cars—issued a joint statement on August 5 noting they had previously “partnered with California when the previous administration attempted to roll back federal vehicle emissions standards.”

The statement continues, “We were proud to stand with California to establish progressive new greenhouse gas regulations, and we remain committed to leading the industry in fighting against climate change. That’s why we support the [Biden] administration’s goal of reaching an electric vehicle future and applaud President Biden’s leadership on reducing emissions and investing in critical infrastructure to achieve these reductions.”

Scrap processors and auto shredding plant operators, in particular, are keeping a close watch on whether and how EVs gain market share in North America. The average EV contains less steel, iron and cast aluminum compared with internal combustion engine (ICE) vehicles, with shredding plants configured to focus on those metals.

Recyclers of lead-acid batteries and catalytic converters likewise have a business model tied to the future prospects of ICE vehicles.

“While the California framework companies are driving toward 40 to 50 percent of our sales being EVs in the next nine years, bold action from our partners in the federal government is crucial to build consumer demand for EVs and put us on track to achieve the global commitments of the Paris Climate Agreement,” add the automakers in their early August statement.

The five companies are requesting “a strong nationwide greenhouse gas emissions standard, continued investments in charging infrastructure and broad consumer incentives for all EV purchases.”