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Month: March 2024

Tailpipe emission rules give automakers more time to ramp up EVs

Tailpipe emission rules give automakers more time to ramp up EVs

By Anna Helhoski  | NerdWallet

The Environmental Protection Agency (EPA) on Wednesday announced its final regulations to limit emissions from automobiles, as part of the Biden administration’s efforts to combat climate change.

The administration’s new, stricter standards on tailpipe emissions are expected to have ripple effects on electric vehicle production. But it also gives automakers more time to comply with the new rules. When the rules were originally proposed last year, the initial emissions limits had a shorter time frame for adoption.

The announcement comes as electronic vehicle demand has begun slowing down in recent months, despite a record 1.2 million in U.S. EV sales in 2023, according to Kelley Blue Book.

What you need to know

  • The new tighter rules for vehicle emissions are expected to roll out more slowly than initially proposed last April. But eventually, the emissions limits will align with the EPA’s target.
  • The new standards apply to passenger cars, light-duty trucks and medium-duty vehicles for all model years 2027 through 2032.
  • The new rule doesn’t require automakers to produce a certain number of EVs, and gas-powered vehicles will still be produced.
  • To comply with the stricter standards, automakers will likely accelerate the production of full-battery EVs, along with hybrids and plug-in hybrid EVs.
  • The emissions goals are expected to be reached by 2032 if more than half (56%) of all new vehicle sales are electric and 13% are hybrids, according to the EPA.

Why this matters

  • Emissions from cars and trucks are the largest contributor to atmosphere-warming greenhouse gasses in the U.S., accounting for roughly one-third of all greenhouse gas emissions, according to the EPA.
  • The new rules are expected to eliminate 7.2 billion tons of carbon emissions in the U.S. by 2055, according to the EPA.
  • For drivers, the new rules are also expected to result in $62 billion in reduced annual costs for fuel, maintenance and repairs, according to the EPA.
  • Auto manufacturing employment is also expected to get a boost from the new regulations as the industry increases EV production.
  • There are, unsurprisingly, health benefits to cleaner air: the EPA says the new regulations “provide $100 billion of annual net benefits to society, including $13 billion in annual health benefits.”

Consider this

  • EV adoption hasn’t been easy for consumers largely due to a lack of charging infrastructure for drivers to power up.
  • A 2023 analysis of federal data by Coast, a fuel card company, found there are an average of 22 EV charging ports per 1,000 road miles compared to an average of 104 gas pumps.
  • The sticker price for EVs is higher than the equivalent non-luxury gas-powered car, according to a study released in July 2023 by Kelley Blue Book. But EVs are more affordable than they once were — prices dropped 20% year-over-year.

What this means for you

The new time frame for meeting emissions standards means automakers don’t have to rev up EV production right now, but in the coming years, consumers can expect more affordable EV options. Consumers are likely to save money with EVs once manufacturers beef up the inventory of less expensive EVs. Once the new standards are fully implemented, the EPA estimates the average U.S. driver will save $6,000 in fuel and maintenance costs. There are also other benefits: EV buyers are also entitled to a 

tax credit read more

3 Central Florida restaurants shut down last week after failed inspections

3 Central Florida restaurants shut down last week after failed inspections

Three Central Florida restaurants shut down the week of March 17-23, according to data from the Florida Department of Business and Professional Regulation.

Orange

Hammered Lamb at 235 N. Orange Ave., Suite #101 in Orlando shut down on March 20. Inspectors found 14 violations, three of which were a high priority. Those violations included flying insects, roach activity and roach excrement. Officials revisited the restaurant for a second time on March 21. They found three violations, issuing a time extension for the roach activity found on the previous day. On a third and final inspection the same day, they found no violations. The restaurant complied with the emergency order.

Seminole

Breakfast Club Oviedo at 1977 Alafaya Trail, Suite 1001 in Oviedo shut down on March 21. Inspectors found 12 violations, three of which were a high priority. Those violations included raw food not separated from ready-to-eat food, roach activity and food held at the wrong temperatures. A second inspection the same day found five violations. None were a high priority. The restaurant met inspection standards. read more

Live chat at 1 p.m. EDT Wednesday with Hyundai Motor America CEO Randy Parker

Live chat at 1 p.m. EDT Wednesday with Hyundai Motor America CEO Randy Parker

Join us at 1 p.m. EDT Wednesday for an Automotive News live talk from the New York auto show with Hyundai Motor America CEO Randy Parker. 

Executive Editor Jamie Butters and Reporter Carly Schaffner, who covers Hyundai, Kia, Genesis, Honda, Acura and Mazda, will take your questions and discuss the happenings at the show with Parker.  

The show will air on Automotive News’ pages on LinkedIn, Facebook and Instagram. You can ask a question in advance in the LinkedIn comment section.

Merlin buys Wheel at ICON Park, restores name to Orlando Eye

Merlin buys Wheel at ICON Park, restores name to Orlando Eye

The Wheel at ICON Park is The Orlando Eye once again after the 400-foot-tall Ferris wheel sold Monday to Merlin Entertainments, the British group that owns Legoland.

The sale puts the wheel on Orlando’s International Drive back in the hands of the company that first operated it from 2015 to 2018. It also unites it with two other Merlin properties at ICON Park, Madame Tussauds Orlando and Sea Life Aquarium Orlando.

Merlin and ICON Park did not reveal the sale price.

“Today’s acquisition of the [Orlando Eye] in the vitally important tourist hub of Orlando demonstrates our gateway strategy in action,” said Merlin CEO Scott O’Neill, referring to the company’s “mega-clusters” of attractions around the world, including the similar London Eye in England.

The Eye is now the fifth Merlin attraction in Florida. Others are Legoland Florida and the adjacent Peppa Pig Theme Park in Polk County.

The Wheel at ICON Park, just renamed “The Orlando Eye” is pictured on Monday, March 26,2024. Merlin Entertainments, the global leader of branded entertainment destinations, is expanding its estate of popular attractions and theme parks in Orlando and Central Florida with the purchase of The Wheel at ICON Park, the tallest observation attraction on the U.S. East Coast. Merlin Entertainments also owns nearby Legoland Florida Resort and Peppa Pig Theme Park. (Stephen M. Dowell/Orlando Sentinel)

Chris Jaskiewicz, president and CEO of ICON Park on International Drive, said he was “proud that Merlin recognized the global appeal of this attraction, and of ICON Park as a destination, in selecting us as the site to expand their popular brands in Central Florida.” read more

Origence's Tesla auto loan engine could link credit unions to other national retailers

Origence's Tesla auto loan engine could link credit unions to other national retailers

Consumers shopping for a Tesla now have the option to arrange credit union car loans through Tesla’s platform following a new partnership between the EV manufacturer and Origence. The arrangement leverages a new auto loan origination and allocation system for Origence, known as FI Connect — a brand Origence CEO Tony Boutelle said could serve other national auto retailers.