Quantcast
Business
Felix Kramer / Wikimedia

Electric Vehicles Enter the Here and Now

By Jason Mathers

The high level of confidence that automotive industry leaders have in the future of electric vehicles (EVs) has been on full display recently.


In just the past few weeks:

This spurt of corporate announcements has been paired with a bevy of statements of international leadership:

  • France declared it would be all electric by 2040.

These developments are more than just excitement about an emerging solution. They are indicators that the market for EVs is developing faster than anticipated even just last year.

Consider the findings of a new report from Bloomberg New Energy Finance:

"[L]ithium-ion cell costs have already fallen by 73 percent since 2010."

The report updated its future cost projections to reflect further steep cost reductions in the years ahead, with a price per kilowatt-hour in 2025 of $109 and in 2030 of $73.

Cost reductions on this order would result in EVs achieving cost parity with some classes of conventional vehicles by 2025—and across most vehicle segments by 2029, according to the report. EV sales are expected to really take off once they achieve cost parity with conventional vehicles, as the vehicles are significantly less expensive to fuel and maintain.

The acceleration in the EV market is great news for climate protection, too. A recent assessment found that zero-emission vehicles, such as EVs, need to comprise 40 percent of new vehicles sold by 2030 in order for the automotive sector to be on a path to achieve critical mid-century emissions targets. With the momentum in the EV market, we have a critical window to further boost this market by ensuring greater access of electric vehicles and a cleaner electric grid to power them.

Unfortunately, the U.S. has not demonstrated the same appetite for national leadership on EVs as other countries. Even worse, we are going in the wrong direction—with serious implications for our health, climate and economy.

Instead of leading, the Trump Administration is undermining critical clean air and climate protections including the landmark clean car standards for 2022 to 2025. The actions of individual automakers, however, tell a very different story from the "can't do it" mantra put forth by the administration.

In their commitments, investments and new product introductions, automotive manufacturers and their suppliers are clearly telling us that low emissions vehicles can play a much bigger role in the near future.

The fact is that automakers can meet the existing 2022 to 2025 federal greenhouse gas standards through deployment of current conventional technology alone. Now, in addition to the robust pathway automakers have through existing technologies, EV adoption rates in the U.S. will be 10 percent in 2025 if the Bloomberg New Energy Finance forecasts hold true. This is further proof that the existing standards are highly achievable. Rather than weaken the standard, the administration should be pursuing options to further scale EVs over the next decade.

Investing in clear car solutions is sound economic policy. These investments enhance the global competitiveness of the U.S. automotive sector.

This is why the UAW in a letter supporting the existing 2022 to 2025 clean car standards, noted:

"UAW members know firsthand that Corporate Average Fuel Economy (CAFE) and greenhouse gas (GHG) standards have spurred investments in new products that employ tens of thousands of our members."

Like other key aspects of the potential of the emerging EV marketplace, the role it can play as an employer has been in the news recently, too.

An AM General assembly plant in northern Indiana was acquired by electric vehicle manufacture SF Motors. The company announced that it will make a $30 million investment in the facility and keep on all the 430 employees.

Fittingly, most of the 430 jobs that were saved to manufacture an emerging, clean technology are represented by UAW Local 5—the oldest continuously operating UAW Local in the country.

Show Comments ()
Sponsored
GMO
Activists campaigning to regulate glyphosate in the European Union. Avaaz / Flickr

Monsanto 'Commands' Civic Group to Turn in All Communications Over Glyphosate

Avaaz, a civic campaigning network that counts roughly 45 million subscribers around the world, has been served with a 168-page subpoena on behalf of agribusiness giant Monsanto.

The document, dated Jan. 26 and sent from New York Supreme Court, "commands" the U.S.-based organization to turn in a decade's worth of internal communications by Friday, Feb. 23.

Keep reading... Show less
Health
Radiation area from Horseshoe Mesa uranium mine tailings at Grand Canyon's South Rim. Al_HikesAZ / Flickr

Uranium Mining's Toxic Legacy: Why the U.S. Risks Repeating Mistakes

By Stephanie Malin

Uranium—the raw material for nuclear power and nuclear weapons—is having a moment in the spotlight.

Companies such as Energy Fuels, Inc. have played well-publicized roles in lobbying the Trump administration to reduce federal protection for public lands with uranium deposits. The Defense Department's Nuclear Posture Review calls for new weapons production to expand the U.S. nuclear arsenal, which could spur new domestic uranium mining. And the Interior Department is advocating more domestic uranium production, along with other materials identified as "critical minerals."

Keep reading... Show less
Popular
The Aldabra Atoll in the Seychelles. Simisa / Wikimedia Commons

Seychelles Creates Groundbreaking Marine Reserve With Help From Leonardo DiCaprio

The Seychelles has created two vast new marine protected areas in the Indian Ocean after a groundbreaking finance deal brokered by the Nature Conservancy and other stakeholders, including environmentalist and Oscar winner Leonardo DiCaprio.

In exchange for writing off a portion of its debt, the island nation agreed to protect a total of 81,000-square-miles of ocean—that's about the size of Great Britain.

Keep reading... Show less
President Trump and French President Macron review troops during the Bastille Day parade last July.

There Are Better Things in France for Trump to Emulate Than a Military Parade

By Elliott Negin

President Trump was so impressed by the military parade he saw in Paris on Bastille Day last July that he ordered the Pentagon to plan a bigger one for Washington, DC.

Keep reading... Show less
Sponsored
Bears Ears National Monument. Gannon McGhee / Flickr

Rare Fossils Discovered on Lands Cut From Bears Ears National Monument

Researchers, led by paleontologist Rob Gay, have discovered what may be one of the world's richest caches of Triassic period fossils at an extensive site within the original boundaries of Bears Ears National Monument. The team's initial excavation led to the extraordinary discovery of several intact remains of crocodile-like animals called phytosaurs. The findings were publicly announced at this week's Western Association of Vertebrate Paleontologists (WAVP) annual conference where researchers warned of a growing threat to their work in the region.

Keep reading... Show less
Renewable Energy
GE Renewable Energy

Nation's Largest Wind Farm Coming to Oklahoma

The Wind Catcher Energy Connection project, which includes a massive 800-turbine wind farm under construction in the Oklahoma panhandle, is getting closer to lift-off.

Southwestern Electric Power Company (SWEPCO), a subsidiary of major utility American Electric Power, announced this week a settlement with various parties, including Walmart, allowing the $4.5 billion project to move forward.

Keep reading... Show less
Sponsored
Popular
Marine litter on a remote stretch of coastline in Rekvik, Norway. Bo Eide / Flickr

Plastic Threatens to Swamp the Planet

By Paul Brown

A ubiquitous tide of plastic particles has now swept throughout the world's oceans.

The human rights activist Bianca Jagger described to a conference in London Tuesday how a substance that was invented only in 1907 and seemed to have almost magical properties, because it was practically indestructible, is now threatening an environmental catastrophe.

Keep reading... Show less

Beachgoers Use Endangered Shark Dragged From Water for Selfies

By Zachary Toliver

Sometimes humans forget that animals have feelings, too, and cause them to suffer. Just consider some Florida beachgoers who were filmed taking photos of and selfies with an injured hammerhead shark, who an expert says most likely died after the incident.

Keep reading... Show less
Sponsored

mail-copy

The best of EcoWatch, right in your inbox. Sign up for our email newsletter!