This post was originally published on this site
https://i-invdn-com.investing.com/trkd-images/LYNXMPEJ9H0XB_L.jpg
WASHINGTON (Reuters) – Ford Motor (NYSE:F) Co said the Biden administration’s proposal to drastically hike fuel economy standards through 2032 threatens “substantial economic hardship.”
The automaker told the National Highway Traffic Safety Administration that the $1 billion in civil penalties through 2032 in the Corporate Average Fuel Economy (CAFE) program the agency says Ford is likely to face through 2032 is “alarming… We see substantial risk of unprecedented civil penalties in the CAFE program.”
