WASHINGTON General Motors warned the Biden administration's vehicle emissions rules could cost the auto industry $100 billion in penalties in 2031, and $300 billion over a five-year period, according to a document made public this week.
The presentation, posted on a White House website, said the total amount of penalties depends on an Energy Department proposal to revise the petroleum-equivalent fuel economy rating for EVs in the National Highway Traffic Safety Administration's Corporate Average Fuel Economy (CAFE) program.
NHTSA is set to release its proposal to hike CAFE requirements for 2027 and beyond as early as Friday.
(Reporting by David Shepardson)
