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The federal government owns some 645,000 vehicles total, according to a 2019 General Services Administration report, with more than 225,000 of those belonging to the U.S. Postal Service and more than 170,000 of those belonging to military agencies.

Of the total vehicles owned by the government, however, only 4,475 are electric vehicles, according to the report.

The president did not give a timeline for when this massive vehicle replacement goal will be implemented.

\"PHOTO:
San Francisco Chronicle/Hearst Newspapers via Getty Images, FILE
PHOTO: Maya Katz-Ali charges her electric car at a charging at a station along Lakeshore Avenue, Nov. 10, 2020, in Oakland, Calif.
>

Shares for U.S.-based electric vehicle companies spiked on Tuesday after Biden's announcement, with Lordstown Motors trading nearly 20% higher and Workhorse Group trading nearly 30% higher.

Biden's \"Made in America\" executive order, signed on Monday, aims to fulfill a campaign promise to increase the amount of federal spending that goes to American companies. The order essentially closes loopholes that allowed foreign products to be purchased, among other measures to boost American manufacturing.

\"PHOTO:
Justin Sullivan/Getty Images, FILE
PHOTO: An electric car owner prepares to charge his car at an electric car charging station on Sept.23, 2020 in Corte Madera, Calif.
>

Biden's push toward electric vehicles is in line with environmental goals and policies he campaigned on that contrast sharply with actions of of the previous administration. Biden notably rejoined the international Paris climate agreement -- which Donald Trump took the country out of -- on his first day in office.

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