Ford, GM Sign On As White House Unveils 54.5mpg Standard
The Detroit News reports that the two auto giants are the first to sign memorandums of understanding on the 2017-2015 fuel efficiency standards, and that other carmakers are preparing to sign MOUs by the end of the day.
The federal government is preparing MOUs that reflect a last-minute change to the agreement, the newspaper said, after talks with automakers and the state of California went on until 1 a.m. this morning.
Hyundai U.S. chief John Krafcik told the paper the deal would “right-size the fleet. There are going to be fewer vehicles over there bought for the occasional need to carry nine people or seven people.”
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