Worldwide Efforts Accelerating the Switch to Electric Vehicles

The world is witnessing a significant shift towards electric vehicles (EVs), with several countries and regions announcing ambitious plans to accelerate the transition from internal combustion engines (ICE) to electric powertrains.

In the UK, the government aims to ban ICE sales, invest up to £1 billion in developing a high-value end-to-end electrified automotive supply chain, and provide funding of approximately £500 million during 2021-24 for mass-scale EV battery production and £1.3 billion for charging infrastructure.

Across the Atlantic, the US is also encouraging EV adoption. The Infrastructure Investment and Jobs Act (also known as the Bipartisan Infrastructure Law) incentivizes EV sales, while California has set a target to ban sales of new ICE vehicles by 2035. The US government also plans for battery electric vehicles (BEV), plug-in hybrid electric vehicles (PHEV), and fuel cell electric vehicles (FCEV) to make up 50% of US sales by 2030. To facilitate this transition, the US plans to invest $7.5 billion in both public charging infrastructure and electric buses, and build a national network of 500,000 EV chargers across 35 states.

Europe is another region actively promoting EV adoption. The European Union's Renewable Energy Directive requires 32% of energy consumed to be renewable by 2030. The Energy Performance of Buildings Directive (EPBD) aims to improve energy efficiency and reduce carbon production, including provisions for EV charging in buildings and the "right to plug". The Alternative Fuels Infrastructure Regulation (AFIR) ensures adequate charging infrastructure for the switch to low- or zero-carbon road travel. Six states in the US have adopted California's Advanced Clean Trucks (ACT) rule, which requires increasing percentages of zero-emission vehicle sales for Class 2b-8 vehicles from 2024 to 2035.

Canada has announced CA$1.7 billion for zero-emission vehicle (ZEV) incentives and a federal budget of CA$2 billion for accelerating production and processing of critical minerals required for EV battery supply chain.

In Asia, China, the world's largest auto market, targets 20% of vehicle sales to be zero-emission vehicles (ZEVs) by 2025. The country also plans to build charging stations for 20 million EVs by 2025 and has various initiatives aimed at promoting EV adoption.

However, not all countries have specific regulatory interventions for EV adoption. The article does not mention any specific targets for sales of electric vehicles in India, Germany, Japan, or South Korea. In Germany, while the government is expected to promote electric vehicles through increased subsidies and a dedicated support program, there are political voices advocating for revising or delaying the planned ban on combustion engines by 2035 to ease pressure on the auto industry.

The global push towards electric vehicles is a significant step towards reducing carbon emissions and combating climate change. With more packages anticipated this year in the US, including $80 billion to support the EV battery supply chain, the future of electric mobility looks promising.