2021 Year in Review: Automotive Industry

In 2021, the automotive industry was awash in change— driven by investment trends, new goals set by the Biden-Harris administration, and international electric vehicle–focused developments. Looking back, 2021 will be viewed as a transformational year in which the ways that automobiles are—and will be—designed, manufactured, powered, sold, and regulated evolved. President Biden’s Executive Order 14037, titled “Strengthening American Leadership in Clean Cars and Trucks,” set a goal that 50% of all new passenger cars and light trucks sold in 2030 would be zero-emission vehicles, including battery electric, plug-in hybrid electric, or fuel-cell electric vehicles. The Executive Order also directs new pollution and fuel-economy standards for light‑, medium-, and heavy-duty vehicles starting in model year 2027. This Executive Order coincides with the US Infrastructure Investment and Jobs Act, which aims to infuse capital into American roads and railways, and to enhance the growth of clean energy alternatives for human mobility. These investment and incentives are designed to, among other things, facilitate increased manufacture, sale and use of EVs.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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