Now that President Obama has won the elections, he is expected to approve new rules on auto safety and tailpipe emissions, and also support the EV development.
President Obama’s second win was mainly due to the $85 billion auto bailout and the resurgence of Chrysler and GM. Despite Romney’s ad showing vehicles being crushed and saying that Chrysler is planning to move Jeep production to China, Obama was still chosen by Michigan and Ohio. Chrysler denied the statement and Sergio Marchionne said the company will hire 1,100 workers in 2013 at the Toledo plant.
“I expect us to pick up again in a second term and put everything back on track,” said Roland Hwang, director of the transportation program at the Natural Resources Defense Council.
Automakers expect the rules setting the annual targets at 54.5 mpg by the 2025 model year to go into effect without major changes by 2016. Although not all companies agree with the new sticker prices, most of the car makers are glad that all is clear about what they have to do regarding the numbers of the fuel-economy labels.
President Obama set a target of having 1 million EVs on the US roads by 2015, which made automakers expect cash and research aid to carry the plan into effect.