Biden's new emissions rule to accelerate EV adoption and phase out gas-powered cars.

The Environmental Protection Agency is set to announce new tailpipe emission standards that would effectively force the auto industry to phase out the sale of gas-powered cars and boost the sale of electric vehicles. The new rules would set an emissions limit on the total number of new cars each automaker sells in a year, ensuring that two-thirds of vehicles sold in the US by 2032 would be EVs. The effort to make this a reality will be massive, requiring a shift from 7% to 68% of all car sales in the US. The auto industry is bracing itself for the new rules, which will be more stringent than ever before.