Oct 3, 2018

With Volkswagen payout, states have $2.7 billion to boost EV adoption

The Tesla Motors showroom and service center in Brooklyn, New York. Photo: Richard Levine/Corbis via Getty Images

In the wake of its 2015 emissions scandal, Volkswagen reached a settlement with the EPA to pay $2.7 billion across all 50 states to make up for unaccounted emissions from non-compliant vehicles. States have been instructed to use these funds to subsidize the purchase of zero-emissions vehicles, as California and New York are already doing.

Why it matters: The trucks, buses, planes and trains that drive the U.S. economy and get us from point A to point B are taking a hazardous toll on the environment, producing 28% of the country's greenhouse gas emissions. But with the Volkswagen payout, states will have new means to clean up their transportation sectors, laying the foundation for nationwide electrification.

The details: Each state will take aim at the form of transit most harmful to their immediate environment.

What’s next: With the means to tackle EVs’ notoriously high sticker price, America’s EV market is likely to see a major uptick. Here’s how the industry might change:  

  • 2018–2019: California has been incubating EV technology with existing incentive programs that have accelerated its development and will continue to do so.
  • 2020–2021: Volkswagen funding will spur the nationwide deployment of medium- and heavy-duty EVs, in addition to other zero-emission vehicle technologies (buses, boats, rail, etc.).
  • 2022 and beyond: Battery costs will decrease and EV sticker prices will fall below those of diesel vehicles.

Dakota Semler is the co-founder and CEO of Thor Trucks.

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Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 7 p.m. ET: 932,605 — Total deaths: 46,809 — Total recoveries: 193,177Map.
  2. U.S.: Total confirmed cases as of 7 p.m. ET: 213,372 — Total deaths: 4,757 — Total recoveries: 8,474Map.
  3. Business updates: Very small businesses are bearing the brunt of the coronavirus job crisis.
  4. World update: Spain’s confirmed cases surpassed 100,000, and the nation saw its biggest daily death toll so far. More than 500 people were reported dead within the last 24 hours in the U.K., per Johns Hopkins.
  5. State updates: Florida and Pennsylvania are the latest states to issue stay-at-home orders — Michigan has more than 9,000 confirmed cases, an increase of 1,200 and 78 new deaths in 24 hours.
  6. Stock market updates: Stocks closed more than 4% lower on Wednesday, continuing a volatile stretch for the stock market amid the coronavirus outbreak.
  7. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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World coronavirus updates: Spain's health care system overloaded

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens and confirmed plus presumptive cases from the CDC

Two planes with protective equipment arrived to restock Spain’s overloaded public health system on Wednesday as confirmed cases surpassed 100,000 and the nation saw its biggest death toll so far, Reuters reports.

The big picture: COVID-19 cases surged past 900,000 and the global death toll surpassed 45,000 early Wednesday, per Johns Hopkins data. Italy has reported more than 12,000 deaths.

Go deeperArrowUpdated 1 hour ago - Health

FBI sees record number of gun background checks amid coronavirus

Guns on display at a store in Manassas, Va. Photo: Yasin Ozturk / Anadolu Agency via Getty

The FBI processed a record 3.7 million gun background checks in March — more than any month previously reported, according to the agency's latest data.

Driving the news: The spike's timing suggests it may be driven at least in part by the coronavirus.