One would think that auto companies would see fuel emissions regulations as a thorn in their sides, but Ford CEO Mark Fields actually welcomes them, according to Motley Fool. The new standards will require 54.5 miles per gallon by 2025, and this seems like a tall order, but Fields likes CAFE (Corporate Average Fuel Economy) standards, even if they are stringent, because they give automakers a target on how to design vehicles for years ahead.
Cars can’t be designed overnight, but require years of planning and productions. If very clear guidelines are stipulated in advance, that gives automakers ample time to prepare. In addition, the stricter the standards, the more consumers will want to buy cars with energy saving devices. With cheaper gas, Fields notes that consumers are less interested in cars with new fuel saving features that were the product of extensive research and development. Stricter CAFE rules should fuel demand. These cafe standards are going to be discussed in 2017 at a “midterm review” between automakers and regulators, and the details will be worked out and fine tuned.
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Meanwhile, the first Jewish CEO of a company that has aimed to transcend the blemished views of its founder Henry Ford, is in the process of developing a self-driving car, which may be available in as little as five years. Its cars already have auto pilot systems that warn the driver about lane departure, but the technology will be far more sophisticated and will aid the driver in ways that can, at present, only be imagined.