ZEVs Act of 2024

The ZEVs Act of 2024 requires automakers selling over 100 new passenger vehicles annually in the U.S. to gradually increase sales of zero-emission vehicles (ZEVs), starting with 43% of new passenger vehicle sales in 2027 and reaching 100% by 2035. Manufacturers must meet these targets using a credit system: they earn credits for each ZEV sold or can purchase credits from others, with unused credits bankable for up to five years. The bill sets annual, increasing percentage targets (e.g., 51% in 2028, 88% in 2033) and imposes civil penalties for noncompliance, including fines equal to twice the value of missing credits. After 2035, manufacturers must sell only ZEVs, with the EPA enforcing these requirements through penalties and potential injunctions.