technology

World’s major carmakers fall behind on the move to electric vehicles

World’s major carmakers fall behind on the move to electric vehicles

The world's major carmakers are reportedly falling behind on their transition to electric vehicles, with just two of them being on track to meet the global target of limiting global heating to 1.5°C, a recent study has shown.

As per the advocacy group InfluenceMap, Mercedes-Benz and Tesla are the only two global manufacturers that are on track to transition to zero-emission vehicles at a rate that meets climate goals.

Carmakers all over the world are competing to create new automobiles with zero-emissions, and nearly every major brand is planning to switch to battery electric power. However, at the same time automobile manufacturers, are attempting to maintain sales of their very profitable diesel and petrol vehicles.

The three largest Japanese automakers, namely, Toyota, Nissan, and Honda have plans for the slowest adoption of battery-powered zero-emissions tech, with South Korean carmaker, Hyundai, and the US-based automaker, General Motors, following close behind.

The study covered 12 of the world's top carmakers, but not the biggest Chinese manufacturers, and was based on IHS Markit's estimates for 2029.

The move to zero-emission automobiles is viewed as critical to the world's shift away from harmful fossil fuels. The International Energy Agency, a regulator recognized by industry and environmentalists, has projected that 57.5% of the car sales across the world should be zero-emission vehicles by 2030 (equivalent to approximately 52% by 2029), if global warming is to be confined to 1.5°C.

Tesla, the electric vehicle company led by Elon Musk, manufactures 100% zero-emission automobiles, whereas Mercedes-Benz plans to create 56% battery cars by 2029.

As per IHS Markit, Honda and Toyota, on the other hand, are on course to build only 14% and 18% zero-emission vehicles by 2029, respectively, as they bet on continued fossil fuel sales.

There's still a possibility that some automakers will choose to speed up their shift to electric vehicles. Regulatory changes in various markets, notably the United Kingdom and the European Union, as well as the fast-falling cost of making zero-emission vehicles, will encourage automakers to break away from diesel and petrol.

Source credit: https://www.theguardian.com/business/2022/may/18/big-carmakers-stuck-in-slow-lane-over-switch-to-zero-emissions-study-shows

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Meghna Singh

An English Literature graduate, Meghna Singh ventured into the profession of content development to incorporate her knack for writing articles across verticals including technology, healthcare, business, and alike for News Origins and RunningAfrica. She has also completed her MBA in Tourism and worked as a content creator in the field of product development.