NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

California, truck manufacturers strike deal on emissions rules

Published 07/06/2023, 12:16 PM
Updated 07/06/2023, 04:36 PM
© Reuters. FILE PHOTO: Tesla's new electric semi truck is unveiled during a presentation in Hawthorne, California, U.S., November 16, 2017. REUTERS/Alexandria Sage/File Photo
GM
-
F
-
CMI
-
NAV
-
MBGAF
-

By David Shepardson

WASHINGTON (Reuters) -California state air regulators and truck and engine manufacturers said on Thursday they had reached an agreement on state emissions rules that will give companies more flexibility to meet requirements.

The California Air Resources Board (CARB) said the "Clean Truck Partnership" with the Truck and Engine Manufacturers Association (EMA) includes new flexibility for manufacturers to meet emissions requirements while reaching state goals for reducing emissions.

In March, the U.S. Environmental Protection Agency (EPA) approved California's plans to require a rising number of zero-emission heavy-duty trucks. California Governor Gavin Newsom said on Twitter in March as a result "half of all heavy duty trucks sold in CA will be electric by 2035."

CARB said it will align its rules with the EPA 2027 regulations for nitrogen oxide emissions. The board also agreed to provide no less than four years lead time and at least three years of regulatory stability before imposing new requirements.

The partnership includes Cummins (NYSE:CMI), Daimler (OTC:MBGAF) Truck North America, Ford Motor (NYSE:F), General Motors (NYSE:GM), Hino Motors, Navistar (NYSE:NAV), Stelantis and Volvo Group North America and "a commitment from the companies to meet California’s vehicle standards that will require the sale and adoption of zero-emissions technology in the state, regardless of whether any other entity challenges California’s authority to set more stringent emissions standards."

Newsom said "today truck manufacturers join our urgent efforts to slash air pollution, showing the rest of the country that we can both cut dangerous pollution and build the economy of the future."

In March, EPA said it was not approving California's request to set new regulations on pollutant exhaust emission standards NOx and particulate matter for 2024 and future medium- and heavy-duty engines and vehicles.

California said Thursday it agreed to modify elements of the 2024 NOx emission regulations for which manufacturers will provide offsets to maintain California emission targets.

"Through this agreement, we have aligned on a single nationwide nitrogen oxide emissions standard, secured needed lead time and stability for manufacturers, and agreed on regulatory changes that will ensure continued availability of commercial vehicles," said EMA President Jed Mandel.

© Reuters. FILE PHOTO: Tesla's new electric semi truck is unveiled during a presentation in Hawthorne, California, U.S., November 16, 2017. REUTERS/Alexandria Sage/File Photo

EPA said Thursday it welcomes the announcement "and looks forward to reviewing the details of this agreement."

California plans to mandate by 2045 that all operations of medium- and heavy-duty vehicles be zero emission where feasible, shifting away from diesel-powered trucks.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.