Biden will set a goal to bring the share of electric vehicles in sales to 50% by 2030

US President Joe Biden will sign a decree on Thursday that electric vehicles should make up half of all new cars sold in 2030. The president will also propose new regulations on harmful emissions to reduce pollution by the end of 2026, the White House said.

Biden’s target, which is not legally binding, has won backing from the central US and foreign automakers, but they warned that it would require billions of dollars in government funding.

In a joint statement, General Motors, Ford Motor, and Stellantis confirmed that they aim to “achieve 40-50% of annual US sales of electric vehicles by 2030.”

Biden’s goal of 50% and automakers’ aspiration for 40-50% includes electric vehicles with batteries, fuel cells, and plug-in hybrid cars, which by a gasoline engine.