Week 5 Exploration: Electric Vehicles on the Path to Emission-Free Transportation
The race to decarbonize transportation and meet the mobility needs of millions worldwide is gaining momentum, with decisions made today playing a crucial role in shaping the future.
The transportation industry in the United States, a significant contributor to carbon emissions, is under pressure to swiftly decarbonize to address the pressing climate problem. By 2035, states like New York and California have pledged to no longer sell gas-powered vehicles, while the 2022 Inflation Reduction Act is set to increase government funding for electrifying transportation.
Across the Atlantic, Europe is also making strides in this transition. By the end of the decade, it is anticipated that Europe will overtake North America as the second-largest producer of battery cells. To strengthen the European battery value chain against the US Inflation Reduction Act (IRA) subsidies, key industrial policies have been put in place. These measures include significant support for domestic battery cell production, fostering the development of large-scale battery cell manufacturers, promoting electric vehicle adoption through tax incentives and infrastructure expansion, and initiatives like the European Battery Alliance launched in 2017.
The world is engaged in a competition to produce cleantech products and the raw ingredients that support them, with electric vehicles (EVs) and batteries attracting significant attention and investment in Europe. It is expected that over 50% of all new cars sold in the US by 2030 will be electric, and similar trends are forecasted for Europe.
However, this transition is not without challenges. The report outlines the potential of EVs to achieve zero emissions but also examines the impact of current mining activities on the environment. It discusses the demand for lithium-ion batteries in Europe, compares this to expected supply, and presents industrial policies to support the European battery value chain.
Moreover, the US IRA may cause businesses to prioritize the US over Europe in battery production. To compete, this report also examines the US IRA subsidy provisions and proposes reforms and new measures for Europe to maintain its position in the global EV market.
Global supply networks will change due to zero-emission transportation, with potential consequences for climate, environmental, and Indigenous justice beyond US boundaries. As we navigate this transformation, it is essential to consider these impacts and work towards solutions that prioritize sustainability and social justice.
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