Carmakers may be required to almost double the fuel economy of their vehicles in the U.S. to 62 miles per gallon by 2025 under a proposal being weighed by the Obama administration, according to environmentalists.
The Obama administration may recommend that automakers increase the fuel economy of their vehicles to as much as 62 miles per gallon, almost double the current goals, by 2025, two environmentalists said.
When President Barack Obama proposed new fuel-economy standards today, he set a pace that’s more aggressive than the industry has managed in the past four years -- or for any sustained period in the last 100.
The possible bankruptcy of Fisker Automotive Inc., which last week fired three-quarters of its workforce, is the latest blow to President Barack Obama’s goal of having 1 million electric vehicles on U.S. roads by 2015.
Tesla Motors Inc., the electric-car maker run by Elon Musk, surged as much as 12 percent on investor confidence in Musk’s plan to boost his stake in the company that’s selling as much as $830 million in shares and debt.