The rise of electric vehicles and their impact on zero emissions

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Due to the rising global warming and air pollution, different countries of the world have come up with ways to curb pollution levels. Due to rising regulatory pressure on automotive industry, the trend is moving from banning of fossil fuels vehicles to adoption of Electric Vehicles.

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Certain developed countries like Britain, France, Norway, Scotland and Germany has imposed ban on fossil fuel vehicles latest by 2040. However, to speed up the rollout of electric vehicles, the UK is going to bring forward ban on fossil fuel cars from 2040 to 2030 across British. Developing countries like China and India are also following. The small countries like Norway were early adopters of EVs, will bring in ban in 2025. Therefore, Electric Vehicles, which was once slogan has transformed to the mainstream business.

Jaguar Land Rover has announced that from 2020 onwards, all its models will be electric. Tesla has also announced that it will bring 30 or more electric vehicles by 2025. Similarly, other European car makers like Volvo, BMW and Daimler have also plans to produce electric vehicles. On the other hand, traditional US manufacturers like Ford, GM and Chrysler are still lagging behind and have no plans to offer EVs. In order to correct this mistake, they have established joint ventures with the Chinese players. Japanese manufacturers such as Toyota Prius and Nissan Leaf have also made their presence in electric vehicle industry. Without mentioning Tesla, the discussion about electric vehicles would be incomplete. Tesla leads the electric vehicle sales in BEV category.

With the emerging market of electric vehicles, the automakers are on race to put battery operated cars on the road. Other industries like aviation are also not behind and are continuously introducing products that will use alternate power source. Zunum Aero’s 12-seat plane will be equipped with battery packs and small fuel reserve as backup engine. The first model would be able to fly about 700 miles, enough to transport passengers from Boston to Washington or Silicon Valley to Los Angeles. Similarly, Vimana has produced an electric air taxi prototype which can carry passengers over short distances.

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Few developed countries of the world enjoy huge penetration of electric vehicles due to faster adoption of electric vehicles and their industry is also backed by strong infrastructure which supports electric vehicle industry. Asian markets were also planning on the path forward. China has taken the lead to EV market in APAC region.

The EV industry has gradually evolving across the world. The biggest example of EV adoption is China. China has severe air pollution problem and to deal with it, China is promoting the use of electric vehicles. Today, China is largest market of electric vehicles in terms of volume. It announced various government incentive schemes to push adoption towards electric vehicles.

Another good example about electric vehicles adoption is Norway. It adopted the electric vehicle concept in the early stages and its EV industry benefitted from the strong infrastructure of the country. Today, Norway has the highest penetration of electric vehicles across the globe which roughly accounts for 30% of the total automobile market. In Norway, electric cars are also exempted from acquisition tax, which is around USD 11,600.

The coronavirus pandemic has badly hit all cars sales worldwide, including electric cars, it fell 15% globally in the second quarter. According to report published by BloombergNEF, It is forecasted that sales of electric cars will be expanded about 7% this year in Europe.

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In United States, there is existing regulation of Zero Emission Vehicle Program (ZEV) for California and 09 other states. This regulation requires automobile makers to sell electric cars and trucks in California and 9 other states. The objective of this program is to ensure that automakers research, develop and market electric vehicles which generate less emissions than gas powered vehicles i.e. zero emission vehicles.

EV industry is still at early stages in India where less than 3,000 electric cars have been sold. The government of India is aggressively pushing the sales of electric vehicles by announcing various incentives through government’s schemes. Faster Adoption and Manufacturing of Hybrid and Electric vehicles (FAME) is government’s latest initiative to boost sales of electric vehicles.

All the top battery manufacturers are observing an increase in its sales. The top player is Panasonic and it has captured more than one-third of market share. In terms of growth, BYD is leading by more than 300% and is second to none.

Thank you for reading! Stay Safe!👋😌

Resources:

1.https://en.wikipedia.org/wiki/Electric_car#:~:text=An%20electric%20car%20is%20a,emissions%2C%20and%20lower%20emissions%20overall. 2.https://timesofindia.indiatimes.com/auto/news/europe-can-win-electric-car-sales-race-if-it-learns-from-china/articleshow/78636903.cms 3.https://www.forbes.com/sites/davekeating/2020/10/13/electric-cars-are-booming-in-eu-thanks-to-strict-co2-limitsso-why-doesnt-us-have-them/#2d68a30b1d23


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5 comments
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I am more interested for a hybrid model - an electric version, that can be recharged using Solar energy. So all day, it can be charged automatically and we do not need to worry.

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I didn't know about the ban on fossil fuel vehicles in the near future, this will really boost the race to develop electric vehicles with more autonomy.

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