The Biden administration stiffened vehicle fuel mile standards on Friday as part of its plan to have emissions-free electric vehicles dominate America’s automobile sector, according to reports.

The new standards, announced by the U.S. Department of Transportation, are among several White House regulations that are designed to push carmakers toward making more electric vehicles. the New York Times reported.

The Environmental Protection Agency issued strict new limits in April on tailpipe pollution that are aimed at ensuring that most new passenger cars and light trucks sold in the U.S. are all-electric or hybrids by 2032, up from 7.6 percent last year, according to the New York Times.

Shares Of US Carmakers May Be Affected

The tighter measures may impact the shares of publicly traded automobile makers that are developing electric vehicles.

Chevrolet is aiming to unseat Tesla as the top U.S. electric vehicle maker, Business Insider reported, at a time when parent company General Motors is facing challenges in the electric vehicle market.

Also Read: Forget Tesla And Rivian: America’s Iconic School Bus Maker Smokes EV, Auto Giants With 117% Stock Surge

General Motor’s shares gained $0.31 on Friday to close at $45.80, while Ford’s stock gained $0.17 to end the trading day at $12.15, according to Yahoo Finance.

Tesla shares went up $2.05 on Friday to close at $177.47. Rivian’s stock declined $0.11 to close at $11.49.

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