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General Motors (GM) may soon earn relief from onerous rules that were designed to promote the sale of electric vehicles, various reports said Sunday. GM stock traded just below a buy point Monday.

A possible change in federal regulatory limits on tailpipe emissions is in the works. The New York Times on Saturday cited unnamed sources saying the Biden administration “intended to relax” elements of its regulatory strategy intended to quicken the shift to electric vehicles (EVs) from traditional vehicles with internal combustion engines (ICE).


On Monday, CNN reported the White House was “considering relaxing stringent vehicle emissions rules,” also citing unnamed sources.

The rules in question required automakers to rapidly increase EV sales over the next few years. The changes could push back those requirements until after 2030, sources told The New York Times.

Both media outlets reported that the changes were not finalized, with an update expected in the spring.

The move was seen as a concession to both automakers and unions, The New York Times said. John Bozzella, president and CEO of auto industry trade group the Alliance for Automotive Innovation (AAI), said on Sunday that the EV market needs more time to develop.

“Give the market and supply chains a chance to catch up, maintain a customer’s ability to choose, let more public charging come online, let the industrial credits and Inflation Reduction Act do their thing and impact the industrial shift,” Bozzella said.

General Motors, Ford (F) and Stellantis (STLA) — the parent of Ram and Jeep brand — have warned that the transition from ICE to EV fleets is going slower than expected. While interested in electric cars, consumers have balked at their steep prices and charging constraints.

GM Stock, Ford Stock Diverge

Shares of General Motors eased a fraction on the stock market today. The auto stock gapped up after fourth-quarter earnings and a strong outlook Jan. 30. It continues to act well. The 50-day moving average recently crossed above the 200-day line, a positive sign.

GM stock now shows a 39.75 buy point from a three-weeks-tight pattern, trading above all the short- and long-term averages.

Ford stock fell 0.5% Tuesday, testing support at the 200-day line. The 50-day average remains below the 200-day line. Stellantis and Tesla also declined.

In the latest sign of EV weakness, Ford slashed the price of its Mustang Mach-E by up to $8,100 in the U.S., putting more pressure on Tesla (TSLA). On top of that, Ford added new incentives for the F-150 Lightning.

Unlike GM stock, shares of Ford have wilted since the automaker’s Q4 report. Further to EV woes, the United Auto Workers union is threatening to strike again this week at Ford’s largest and most profitable truck plant in Kentucky, if a local contract dispute is not resolved.


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