California Bans Gas-Powered Cars By 2035 🚗

California governor Gavin Newsom issued an executive order Wednesday requiring that all new car sales must be zero-emission by 2035. He also is requiring heavy-duty trucks in the state to be zero-emission by 2045. The move would make California the first state with a plan to totally phase out gas-powered vehicles, but the move is not totally unprecedented as 17 countries have committed to a deadline eliminating gas-powered cars.

This is a big deal for the auto industry and its many complementary businesses as California is their biggest market in the U.S. About 11% of American cars are registered in California so this could really shake up the structure of the industry’s biggest players. GM is one example of a company that has placed a significant focus on electric vehicles recently, and this news will only mean that focus will increase.

This executive order comes as California has been devastated by wildfires, which have sparked a larger conversation about the impact of climate change. The state has had a record of being a leader in enacting new regulations of many types, so don’t be surprised if other left-leaning states follow California in the near future.

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

Originally published at https://invstr.com on September 24, 2020.

Build confidence, and invest with knowledge. Play, learn, & invest on the Invstr app today! Available on iOS and Android. https://invstr.com/

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

McDonalds is not bicycle friendly

April 22 Is Earth Day

How the climate crisis is transforming the meaning of ‘sustainability’ in business

Widening the Green lens

How much Comfrey can you grow on 13m2 ? — Comfrey Trial Results Year 1

Why is BHP Running Away from Public Meetings in Ecuador? | Decoin | Decoin.com

THE PRICE OF FAST FASHION-BBC reflection

Biden’s Clean Power Proposal Will Boost Colorado’s Economy — And Hickenlooper Can Make It Happen

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Invstr

Invstr

Build confidence, and invest with knowledge. Play, learn, & invest on the Invstr app today! Available on iOS and Android. https://invstr.com/

More from Medium

MAY 11. With inflation, stock market collapse, and China…

What a Major Market Pullback Could Look Like

Money on fire

The $4,500 incentive for electric cars built by unions should be reframed by Tesla fans — Electric…

Will TSLA stock crash?