Abstract
In recent years, the adoption of command-and-control policies, from mandating sales of zero-tailpipe-emission vehicles all the way to prohibiting future sales of gasoline- and diesel-powered vehicles via tailpipe carbon dioxide (CO2) emissions standards or otherwise, has gained momentum globally in the new light-duty vehicle sector. This includes the zero-emissions vehicle (ZEV) mandate in California (CARB 2017), which was later adopted by other ZEV states in the United States, the new energy vehicle mandate in China (ICCT 2018), and the recently enacted laws in the European Union (Council of the European Union 2022) and California (CARB 2022) that effectively ban the sale of new gasoline- and diesel-powered vehicles after 2035.
