Tesla Inc (NASDAQ:TSLA) has ramped up pressure on the US government to press ahead with rules designed to incentivise manufacturers to produce more efficient vehicles.
Calling on the government to green-light the National Highway Traffic Safety Administration’s proposals for raising corporate average fuel economy standards, Tesla on Tuesday said the move would “conserve energy and address climate change”.
Under the proposal, automakers would have to increasingly develop more fuel-efficient cars over the coming years to ensure their fleets average 58 miles per gallon by 2032.
Companies could face hefty fines if they failed to do so, with Ford Motor Company (NYSE:F), General Motors Company (NYSE:GM) and Stellantis NV (NYSE:STLA, EPA:STLA) previously warning these could exceed US$10 billion in a matter of years.
Volkswagen and Toyota Motor (NYSE:TM) have also criticised the proposals, which are ultimately designed to improve fuel efficiency, or even encourage production of electric vehicles (EVs).