Ford estimates Bidan’s fuel economy initiative at $1 billion in possible fines
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The American automaker Ford has estimated the impact of the US President Joe Biden administration’s initiative to raise fuel economy standards at $1 billion in possible fines from 2027 to 2032. The agency reports this Bloomberg.
“This is alarming in itself and poses significant economic challenges for Ford,” company officials said. New environmental standards will affect manufacturers of SUVs and trucks, the agency writes. The law will impact Ford, General Motors Co. the most. and Stellantis N.V.
The Joe Biden administration’s initiative is designed to reduce harmful emissions and stimulate the transition to electric vehicles. The National Highway Traffic Safety Administration has proposed a fuel economy average of 58 mpg by 2032.
In mid-September, workers in the Big Three American auto industry (Ford, General Motors Co. and Stellantis NV) began one of the largest strikes in history. The strikers are demanding higher wages and benefits. In response, companies say that this will bankrupt the business.
Read more about the consequences of the United Auto Workers strike in the USA in the material Kommersant FM.
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