EVs and green shoots for climate

Issue #231, Dec 23, 2023

The electric vehicle (EV) industry has been witnessing green shoots from multiple directions, despite the headwinds it faces. China's early mover advantage in EV sale for example gives it an edge in battery circularity, while other countries face a catch-22 situation with not many end-of-life batteries available for circularity. Autonomous vehicles face issues on the road. But their usage for industrial applications is on the rise. It is economics and consumer preferences — not green concerns— that are hastening the energy transition in China and a reduction in its appetite for oil. EV sale may have plateaued in the US. But the share of EV in 2023 is a bright spot and should continue to be a major technology to watch out for sustainability, as we approach 2024. Owners of EVs find the installation of solar rooftops to be beneficial. Tyre particles are significant contributors to pollution and biodegradable materials are an option to look at. Below are some green shoots in the EV industry,

China and battery circularity

Recycling has always been a chaotic business. The same issues plague China, where one in every three new vehicles sold is electric. Officials say the nation may reach its goal of having electric cars account for 50% of all new sales by 2026 — 10 years ahead of schedule. According to the consultancy Circular Energy Storage, China will have nearly four times as many batteries to recycle by 2030 than it did in 2021 and the nation dominates when it comes to preprocessing and materials recovery. - Bloomberg

Driverless trucks for industrial usage

Autonomous trucks may be running into trouble on the highway, but the technology behind self-driving vehicles is getting traction deeper inside shipping operations in freight yards, warehouses and seaports. Technology intelligence firm ABI Research projects the market for autonomous trucks to grow at a CAGR of about 53% from 2022 to 2030. Kimberly-Clark for example has more than 300 autonomous forklifts at its North American warehouses, up from about 30 in 2019, said Sarah Haffer, vice president of customer logistics for the company’s North America consumer division. - WSJ

Link: https://www.wsj.com/articles/self-driving-vehicles-are-finding-a-home-in-industrial-operations-096784fe

EVs and China's oil appetite

An EV road trip across China reveals how economics and consumer preferences—not green concerns—are hastening the energy transition. China is the world’s biggest crude importing nation. Its massive two-decade long growth in consumption helped bring prices into the $100s per barrel range. The transport sector accounts for nearly half of China’s overall oil consumption, so with the growing number of EVs meaning demand for fuel is expected to fall, analysts and industry executives alike are bringing forward predictions for when China will reach its peak oil moment. - Bloomberg

EVs and climate change

Scientists are warning that the world is running out of time to avoid dangerous warming levels. There are a few bright spots shining through the darkness. New technologies that can help address climate change, from heat pumps to solar panels to EVs, are coming to the market and getting cheaper. EVs are on track to make up 15.5% of automotive sales this year, according to BNEF. Between battery EVs and plug-in hybrids, this new growth means there are almost 41 million passenger EVs on the road. Batteries are becoming more widely available and cheaper.

EVs and solar rooftops

Residential solar is gaining traction in the US, with about 4.5 million homes now with solar rooftops. The share of EVs in the US is also growing. Many people with EVs become interested in charging them on solar energy, if they own their own roofs. If an owner chooses to buy a set of batteries to pair with the panels, they can have an ongoing “bank” of energy to pull from. Nearly a fifth of new household solar systems im California, which dominates the rooftop solar market in the US, were installed with batteries in 2022. - AP News

Tyres with biodegradable material

Tyre particles are significant contributors to pollution. As the world increasiongly moves towards environment-friendly, sustainable solutions, Indian tyre major JK Tyre has developed, and is currently testing a tyre with 80% biodegradable materials. - ET Auto

Tesla's unconventional truck

Tesla’s top designer said the recently launched Cybertruck will test whether a pickup with unconventional looks can gain traction in a category known for meat-and-potatoes styling. “Some people’s trash is other people’s treasure,” Franz von Holzhausen said of the vehicle’s angular body design, speaking to reporters recently. - WSJ

Link: https://www.wsj.com/business/autos/tesla-cybertruck-design-08c405c3