{"id":23839,"date":"2023-10-02T17:46:50","date_gmt":"2023-10-02T17:46:50","guid":{"rendered":"https:\/\/microloannexus.com\/investing\/gm-stellantis-face-9-5-billion-in-fuel-economy-fines-letter\/"},"modified":"2023-10-02T17:46:51","modified_gmt":"2023-10-02T17:46:51","slug":"gm-stellantis-face-9-5-billion-in-fuel-economy-fines-letter","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=23839","title":{"rendered":"GM, Stellantis face $9.5 billion in fuel economy fines — letter"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: The logo of Stellantis is seen on a company’s building in Velizy-Villacoublay near Paris, France, February 23, 2022. REUTERS\/Gonzalo Fuentes\/File Photo<\/span>
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WASHINGTON (Reuters) – The Biden administration proposal to hike fuel economy standards through 2032 would cost General Motors (NYSE:) $6.5 billion in fuel economy fines and Chrysler parent Stellantis (NYSE:) $3 billion, according to a letter seen by Reuters. <\/p>\n

The American Automotive Policy Council, representing GM, Stellantis and Ford Motor (NYSE:), said in a letter to the Energy Department on Friday that the size of the expected penalties for not meeting proposed Corporate Average Fuel Economy (CAFE) requirements are “alarming.” <\/p>\n

It asked the Energy Department to reconsider its plan to revise the “Petroleum Equivalency Factor” that will result in “disproportionately higher compliance costs” for U.S. automakers. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

2\/2 \u00a9 Reuters. FILE PHOTO: The logo of Stellantis is seen on a company’s building in Velizy-Villacoublay near Paris, France, February 23, 2022. REUTERS\/Gonzalo Fuentes\/File Photo 2\/2 WASHINGTON (Reuters) – The Biden administration proposal to hike fuel economy standards through 2032 would cost General Motors (NYSE:) $6.5 billion in fuel economy fines and Chrysler parent<\/p>\n","protected":false},"author":1,"featured_media":12917,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[32],"class_list":{"0":"post-23839","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing","8":"tag-featured"},"yoast_head":"\nGM, Stellantis face $9.5 billion in fuel economy fines -- letter | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"2\/2 \u00a9 Reuters. 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