EPA's new auto emissions rules boost electric vehicles and hybrids

The Biden administration announced new automobile emissions standards Wednesday that officials said were the most ambitious ever to reduce carbon emissions from passenger vehicles.

The new rules relax the initial tailpipe limits that were proposed last year, but they'll eventually approach the same strict standards laid out by the Environmental Protection Agency.

The rules come as sales of electric vehicles, which are needed to meet the standards, have begun to slow. The auto industry cited lower sales growth in objecting to the EPA's preferred standards unveiled last April as part of its ambitious plan to cut planet-warming emissions from passenger vehicles.