Ford, GM, GM to push for half of U.S. sales to be electric vehicles by 2030

Ford, General Motors and Stellantis announced on Thursday morning that they aimed for 40% to 50% of their U.S. sales to be electric vehicles by 2030.

The move comes with Biden set to sign a non-binding executive order pushing for half of all vehicle sales to be electric by the same date. Tesla, which builds electric vehicles only, was not a signatory to the statement.

This represents a dramatic shift from the U.S. market today, which can be achieved only with the timely deployment of the full suite of electrification policies declared by the Administration in the Build Back Better Plan, including purchase incentives, a comprehensive charging network of sufficient density to support millions of vehicles these targets represent, investments in R&D, and incentives for expanding the electric vehicle manufacturing and supply chains in the U.S. the automakers added.

Biden is calling for $174 million worth of government spending to support the initiative, while Ford, GM and Stellantis have each dedicated $30 billion to their global electrification and autonomous vehicle plans.

The pledge made by the automakers however includes plug-in hybrids, which combine both short-range, all-electric driving with extended-range driving by an internal combustion engine. Ford and Stellantis offer several models using this technology, while GM has moved from it in favor of full-battery and hydrogen fuel cell powertrains and looks to become all-electric in the U.S. by 2035.

Hyundai told Reuters that the plan is great for the environment and added you can count on Toyota to do our part, while Toyota said it supports the 2030 40-50 000 - 50% EV sales target.