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Sales of gasoline-powered light-duty vehicles in the U.S. are unlikely to ever top their 2016 level of 17.3 million, according to an analysis from the think tank Third Way.

Why it matters: Transportation is the country's largest source of greenhouse gas emissions.

The big picture: The report adds to the emerging signs of "peak ICE."

  • That's the prospect that sales of internal combustion engine (ICE) cars in the U.S. and perhaps the world will never rise again.
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Reproduced from Third Way; Chart: Axios Visuals

What's next: "Sales of gasoline powered vehicles will continue to fall due to the strong growth and now competitive viability of electric vehicles," the report predicts.

  • EVs are just a tiny share of vehicle sales right now.
  • But the analysis notes they have momentum, with sales of plug-in hybrids and full electrics combined growing fourfold since 2015 to reach an estimated 433,000 this year.
  • Nevertheless, it calls for policy measures that would speed up adoption of EVs, including incentives for re-tooling manufacturing plants to produce new models.

Go deeper: America’s war over natural gas hits home in New York

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Quibi says it's shutting down

Photo: Igor Golovniov/SOPA Images/LightRocket via Getty Images

Quibi, the mobile-only video subscription streaming service, is shutting down, the company announced Wednesday. The company said the decision was made to preserve shareholder equity.

Why it matters: Quibi had struggled to hit its subscriber growth targets amid the global pandemic. The app launched six months ago.

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The Justice Department filed a 63-page antitrust lawsuit against Google related to the tech giant's search and advertising business. This comes just weeks after the House subcommittee on antitrust issued its own scathing report on Google and other Big Tech companies, arguing they've become digital monopolies.

Axios Re:Cap talks with Rep. David Cicilline (D-R.I.), chair of the subcommittee on antitrust, about Google, the DOJ's lawsuit and Congress' next move.