Global vehicle markets have mostly committed to electric vehicles as the preferred strategy to decarbonize transportation. But the rate at which different economies are adopting EVs varies greatly. Broad electrification of both passenger and freight vehicles will depend on price advantages compared to internal combustion engine vehicles, resilient supply chains for essential and critical minerals, and supportive industrial policies. This hub provides insights into the state of EV adoption pathways in the major national markets, the implications for greenhouse gas reduction goals, and consequences for businesses worldwide.
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Because a lot of gas-powered cars are likely to remain on the road, overall transportation emissions may only fall by roughly half by 2040.
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US Vehicle Electrification Will Be a Decades-Long Process
September 12, 2023