As the world shifts towards renewable energy sources, the transport industry is moving faster than ever.
The International Energy Agency posits that the transport industry has the highest reliance on fossil fuels of any sector, accounting for 37% of CO2 emissions from end-use sectors in 2021.
Since the 1970’s, transportation emissions have almost tripled, with little signs towards abatement any time soon.
Though EV’s have finally started to reduce and slow CO2 emissions from Passenger Vehicles, as the chart on the previous page suggests, Medium-trucks, Heavy-trucks, Buses, Mini-buses, and light commercial vehicles collectively contribute the other lion’s share of emissions from the transport industry; these commercial and heavy-duty vehicles account for over 35% of the world’s transport emissions.
The State of the Electric Vehicle Revolution 2023
Global electric vehicle (EV) stock has surpassed 30 million, and China is home to over half of all the EVs on the world’s roads. 1 in 7 new cars sold last year was electric, and by 2030, we will have 138 Million EVs.