The Inflation Reduction Act will drive electrification of transportation forward but won’t be enough to meet the United States’ climate goals under the Paris Agreement, according to a new report from the International Council on Clean Transportation.
The ICCT is best known as the research group that broke the Volkswagen Dieselgate scandal. We recently covered another of its reports showing that plug-in hybrids use more gas than previously thought.
Its new report analyzes the effects that the US Inflation Reduction Act and its new electric car tax credits will have on EV adoption in the US.
The analysis comes to the conclusion that the new tax credits will be a significant driver of electrification, likely resulting in 48-61% EV sales among light duty vehicles in 2030. This would exceed the Biden administration’s goal of 50% EV market share by 2030.
However, the ICCT says that EVs must meet 67% market penetration, alongside significant increases in ICE efficiency, in order for the US to meet its Nationally Determined Contribution to world climate goals.
As a result, more action is needed to ensure that the US is still within reach of world climate goals. The ICCT says that this action should come from the EPA, which will release a new proposal for greenhouse gas standards in March.
The ICCT suggests that the EPA align these new standards with California’s recently finalized Advanced Clean Cars II standard. This standard is already expected to be adopted by several “CARB...
NEW YORK, April 27, 2026 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP alerts investors in ImmunityBio, Inc. (NASDAQ: IBRX) of a pending securities class action naming a senior executive as an ind...