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Illustration: Eniola Odetunde/Axios

British Prime Minister Boris Johnson is slated to announce this week that sales of new internal combustion vehicles will be banned by 2030, the Financial Times reports.

Why it matters: It would be among the world's most aggressive policies to bolster deployment of electric vehicles and curb transportation emissions.

  • The 2030 target is five years earlier than plans unveiled early this year, which themselves were an acceleration of a previous 2040 date.
  • However, under Johnson's imminent plan, sales of new petroleum-electric hybrids could continue until 2035, they report.

Yes, but: Via Bloomberg, "three senior government officials said no decision had been taken yet."

The big picture: "Johnson is expected to move the date to 2030 in an attempt to jump-start the market for electric cars in the U.K. and propel the country towards its goal of net zero emissions by 2050, according to government and industry insiders," per FT.

  • It's part of a wider set of climate policies Johnson is expected to announce this week.

Speaking of EVs, here are a couple more pieces of news...

  1. "Volkswagen AG plans to invest around $86 billion in the development of electric vehicles and other new technologies over the next five years, as the world’s largest auto maker races to overtake Tesla Inc. as the leading maker of electric cars," the Wall Street Journal reports.
  2. "General Motors Co. is voluntarily recalling 68,667 Chevrolet Bolt EVs  manufactured between 2017-2019 as it works with the National Highway Traffic Safety Administration to pinpoint what caused multiple battery fires," per the Detroit News.

Go deeper

Ben Geman, author of Generate
Nov 20, 2020 - Energy & Environment

Why Tesla's market cap is soaring far past GM's

Expand chart
Data: FactSet; Chart: Sara Wise/Axios

Tesla is soaring past General Motors in market capitalization — even as electric vehicles remain still a tiny slice of vehicle sales and FM's overall sales far outstrip Tesla's.

Why it matters: Tesla's enormous market value helps to show how investors see vehicles with a plug as the future, even though internal combustion vehicles will dominate for a long time to come.

Nov 20, 2020 - Economy & Business

U.S. lays groundwork for self-driving car standards

Illustration: Eniola Odetunde/Axios

U.S. auto safety regulators began a regulatory process on Thursday to solicit public input on how to ensure the safety of future self-driving vehicles.

Why it matters: The proposed rulemaking is a step toward the adoption of new safety standards for autonomous vehicles, but it could be years before any rules are final.

Tony Hsieh, longtime Zappos CEO, dies at 46

Tony Hsieh. Photo: FilmMagic/FilmMagic

Tony Hsieh, the longtime ex-chief executive of Zappos, died on Friday after being injured in a house fire, his lawyer told the Las Vegas Review-Journal. He was 46.

The big picture: Hsieh was known for his unique approach to management, and following the 2008 recession his ongoing investment and efforts to revitalize the downtown Las Vegas area.