BY MUKUL SINGH

California Just Banned Gas-Powered Cars

California Just Banned Gas-Powered Cars

California regulators have passed new rules to ban sales of new gasoline-powered vehicles

CNBC/ California Bans

These rules seek to ban such cars and light trucks by the year 2035

The action is taken considering Transportation as the major cause of car pollution in California

Other states are also working with California in adopting strict standards on car pollution

Standard Hybrids rely much more on gasoline therefore they will be seen as gasoline models

Plug-in Hybrids will be available for sale in 2035 if they qualify for certain norms

This rule will boost EVs production which will automatically bring down their cost

However, users can still buy and own gasoline-powered used cars as this rule is only applicable to new cars

The most upset industries right now are the Oils and Biofuels industries as this rule will reduce the use of their products