United States President Joe Biden has been a staunch supporter of the EV trade. However, this has come at the expense of support from some of the country’s wealthiest and most powerful individuals and their collective groups.
Now, things have come to a head as Exxon Mobil (XOM.N) and Chevron (CVX.N), among others, have banded together to file a federal lawsuit against Biden and his administration.
According to the lawsuit, which will receive support from the American Petroleum Institute (API), the National Corn Growers Associated and the American Farm Bureau Federation, among others, the U.S. Environmental Protection Agency has stepped outside of its congressional authority by making moves that would phase out new gas cars in the United States in less than a decade.
API Senior Vice President and General Counsel Ryan Meyers described this as an “intrusive government mandate.”
The EPA’s most recent tailpipe emission rules effectively handcuffed automakers into a decision where they have no choice but to produce and sell more electric vehicles. The new standards project that electric car sales will make up more than half of the entire automotive industry in the United States between 2030 and 2032.
While Biden has used addressing climate change as part of his bid for the presidency and during his tenure, his main rival, Donald Trump, vows to reverse some of the changes that the current administration has made.