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Study warns about a tight time frame for switching to EVs

A brisk transition to zero-emission vehicles is underway, but it’s still unclear whether the global transportation sector’s makeover is enough to stave off the worst consequences of climate change. Cars and trucks account for three-quarters of all transportation-related greenhouse gas emissions, including planes, trains and ships, according to McKinsey & Co., and automakers and commercial…

A rapid transition to zero emission vehicles is under way, but it is still not clear if the sector’s transformation is sufficient to avert the worst effects of climate change.

Cars and trucks account for three-quarters of all transportation-related greenhouse gas emissions, including planes, trains and ships, according to McKinsey & Co., and automakers and commercial truck manufacturers will have to accelerate their push to reach net-zero targets by the middle of the century. These goals are set but the road to reaching them is not.

“How to get there isn’t written in stone,” Eric Hannon from McKinsey’s Center for Future Mobility told Automotive News .. “We’re moving too slowly, frankly. We’re not on the right track to get there yet. “

The growing consumer demand for electric cars has encouraged optimism. According to McKinsey’s report, EVs account in Europe for 8 percent of all new car registrations. In the U.S., battery-electric vehicles, hybrids and plug-in hybrids combined surpassed 10 percent of new-vehicle sales in the fourth quarter of 2021, according to numbers issued in February by the U.S. Energy Information Administration. Hannon stated that the infrastructure for charging the demand requires significant construction. He estimates that Europe alone must add 10,000 chargers a week for EVs to help meet 2030 climate targets.

” The numbers around those are amazing,” Hannon stated last week during an appearance on Automotive News ”Shift: A podcast about mobility. We need to have thousands of chargers installed every day in order to get on the net-zero path. This is the goal for the entire decade. It is essential to invest in infrastructure. This infrastructure need is growing as the climate crisis becomes more severe. In April , the Intergovernmental Panel on Climate Change warned that the world faces a “now ” moment when carbon emissions must reach their maximum by 2025 in order to maintain temperature rises within a 1.5-degree Celsius limit.

Getting more traction will require consumers to accept higher upfront costs for vehicles in exchange for total-cost-of-ownership benefits down the road. McKinsey’s report says that cost parity with comparable internal combustion engine vehicles will

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