General Motors will see its technology costs decline by $20.4 billion through 2031 as a result of drastically lower vehicle fuel economy rules finalized Monday, the ‌US Transportation Department said.

The U.S. Transportation Department on Monday finalized sharply lower vehicle fuel economy standards, President Donald Trump's latest effort to encourage ‌sales of gasoline-powered vehicles and reverse former President Joe Biden's push toward greater fuel efficiency and EVs.

Western automakers are chasing a defence spending boom as a way to sell more vehicles and make use of underemployed factories, though executives say military work will not make up for slowing car sales and growing Chinese competition.

A surge in diesel prices linked to this year's Iran conflict has helped make electric trucks cheaper to own and operate than diesel models in six ‌major European Union markets, which account for almost half of the bloc's new truck sales, according to an analysis by Brussels-based environmental advocacy group Transport & Environment.