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News: The rising temperatures across the globe have forced the global countries to shift towards low carbon transport technologies (e-vehicles).
The financially devastating climate events of 2021 have forced global countries to search for low carbon technologies. For instance, hurricanes in the US, China, and India, floods in Australia, Europe, and Canada, cost $170 billion in damages, according to a study by Christian Aid, a UK charity.
Currently, e-vehicles are being projected as one of the most prospective solutions for achieving decarbonization.
How the adoption of E vehicles has progressed so far globally?
Globally, 2021 for EVs has panned out far better than expected at the beginning of the year. For instance,
Sales of electric two-wheelers in India have jumped in 2021, and it is set for new records this year, as charging becomes easier and petrol becomes dearer.
Tata Motors announced the incorporation of a wholly-owned subsidiary for electric vehicles last month. The company’s EV sales (Nexon, Tigor) reached a new quarterly peak.
Tesla managed to deliver a record 308,600 cars in the last quarter of the year.
In Norway, 65 per cent of all vehicle sales last year are estimated to have been electric
Bloomberg NEF estimates total passenger car sales last year more than doubled to 6.3 million vehicles.
What are the policy measures adopted to boost E- vehicles in India?
As many as 15 states in India have dedicated EV policies, against only four in 2019. Many states offer upfront subsidies for EVs and provide support for charging-infrastructure deployment.
In Norway, only electric vehicles will be sold from 2025.
In the U.S, The Joe Biden administration’s big boost for electric vehicles is underway.
What are the other measures taken to drive the global economy towards a low carbon economy?
The US Department of Energy has revived its loan-guarantee program, unlocking more dollars for innovative decarbonization technologies. For instance, it offered a conditional commitment to guarantee a loan to Monolith Nebraska for a project to convert natural gas into hydrogen (via methane pyrolysis) to be used in the agriculture sector.
Why Methane pyrolysis?
Current processes for making carbon black and ammonia emit greenhouse gases. Whereas, the methane pyrolysis process gives off no carbon dioxide.
Source: This post is based on the article “Electric vehicles, hydrogen and climate” published in Business Standard on 7th Jan 2022.