California Accelerates Clean Transportation Policy, Sets Historic Target Of 500,000 Electric Trucks By 2040
- Jul 1, 2020 12:00 pm GMTJun 30, 2020 7:38 pm GMT
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California just shifted the electric trucks market into high gear.
On June 25th, the California Air Resources Board (CARB) approved the Advanced Clean Trucks rule, which would require about 60 percent of new medium- and heavy-duty trucks sold in the state to be zero-emission vehicles (ZEVs) by 2035. The rule is America’s first electric vehicle standard for trucks, creating a market for up to 500,000 electric trucks by 2040.
Tesla TSLA’s stock price recently jumped to more than $1,000 per share on news the company would rev up production of its long-haul Class-8 tractor—an indication of growing investor confidence in electric truck economics.