Executive Briefings

Transport Sector Primed for the Growth of Electric Vehicles

When it comes to reducing the greenhouse gas emissions, the electricity sector gets much of the attention, considering that it is responsible for 29 percent of those releases. But the transportation sector makes up 26 percent of them. If that is going to change, the electric car will have to make significant inroads.

As for those stats, that's the US Environmental Protection Agency speaking, which also says that industry is responsible for 21 percent of greenhouse gas emissions while commercial and residential users comprise 12 percent. Meantime, the agricultural sector makes up 9 percent. The electricity sector is having success because of the switch from coal-to-gas. And industry is committed to such reductions because that is what their customers want, forcing them to track their releases and find new ways to cut them.

One method that companies could use to have an impact is to buy into the electric car. While the automotive sector has been a slow mover, things could change if industry gets involved.

In the International Energy Agency’s ‘Global EV Outlook 2017,’ it shows a lot of acceleration in the last year. Kirill Klip, executive chairman of International Lithium Corp. points out in a blog that there were 2 million electric cars on the road in 2016. “It took us all human history to get to 1 million of electric cars in 2015 and just over 1 year to double this amount and exceed 2 million EVs by now,” he writes.

“Electric Cars still represent only 0.2 percent of all cars in the world,” Klip added. “Worldwide sales of electric cars have reached 1.1 percent of total auto sales in 2016. In order to limit temperature increase below 2º C the number of electric cars needs to reach 600 million by 2040.”

China has been the biggest market, he adds, at 40 percent of all sales. It also has 2 million electric bikes. Norway, meantime, was a third of the EV market in 2016.

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As for those stats, that's the US Environmental Protection Agency speaking, which also says that industry is responsible for 21 percent of greenhouse gas emissions while commercial and residential users comprise 12 percent. Meantime, the agricultural sector makes up 9 percent. The electricity sector is having success because of the switch from coal-to-gas. And industry is committed to such reductions because that is what their customers want, forcing them to track their releases and find new ways to cut them.

One method that companies could use to have an impact is to buy into the electric car. While the automotive sector has been a slow mover, things could change if industry gets involved.

In the International Energy Agency’s ‘Global EV Outlook 2017,’ it shows a lot of acceleration in the last year. Kirill Klip, executive chairman of International Lithium Corp. points out in a blog that there were 2 million electric cars on the road in 2016. “It took us all human history to get to 1 million of electric cars in 2015 and just over 1 year to double this amount and exceed 2 million EVs by now,” he writes.

“Electric Cars still represent only 0.2 percent of all cars in the world,” Klip added. “Worldwide sales of electric cars have reached 1.1 percent of total auto sales in 2016. In order to limit temperature increase below 2º C the number of electric cars needs to reach 600 million by 2040.”

China has been the biggest market, he adds, at 40 percent of all sales. It also has 2 million electric bikes. Norway, meantime, was a third of the EV market in 2016.

Read Full Article