ZEVs Act of 2024

The ZEVs Act of 2024 requires vehicle manufacturers to sell an increasing percentage of zero-emission vehicles (ZEVs), starting at 43% of new passenger vehicles in 2027 and reaching 100% by 2035. Manufacturers that fail to meet annual targets can purchase credits from those who exceed their sales goals, with credits issued for each ZEV sold and allowed to be banked for up to five years or traded. The law applies to manufacturers selling at least 100 new passenger vehicles in the U.S. annually, excluding dealers and parts suppliers. It does not override state ZEV programs but ensures federal compliance for all manufacturers.