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What is the future of the automotive industry with clean energy?

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Indeed, clean energy revolutionised the future of the automotive industry by being both promising and challenging, with the sector facing the dual pressures of meeting the growing demand for mobility and reducing its environmental impact.

According to the IEA, the transport sector accounts for 24% of global energy-related CO2 emissions, and road vehicles are responsible for nearly three-quarters of that share.

The goal of the Paris Agreement can be achieved by limiting global warming to well below 20 C. A radical transformation is leading the automotive industry towards low-carbon and zero-emission technologies.

The key trends and developments shaping the future of the automotive industry with clean energy are:

  • Electrification of the automotive industry by using batteries or fuel cells The energy efficiency and performance of the vehicles can be improved by reducing their tailpipe emissions. According to the IEA, electric car sales reached a record of 3 million in 2020, despite the pandemic, and accounted for 4.6% of global car sales.
  • Renewable energy integration means the use of renewable sources such as wind, solar, hydro, bioenergy, and geothermal for generating electricity to charge electric vehicles or produce hydrogen for fuel cell vehicles. The integration reduces emissions and pollution from the power sector to enhance the energy security and independence of different countries and regions. According to the IEA, 7% of renewable electricity generation increased in 2020, reaching almost 30% of global electricity generation.
  • Circular economy refers to minimising waste and maximising resource efficiency by designing, producing, using, and reusing products and materials in a closed loop. The environmental footprint of vehicles and components can be reduced by the circular economy throughout their life cycle, from production to end-of-life. According to the IEA, circular economy practices will save around 75 million metric tonnes of oil-equivalent energy in passenger light-duty vehicles by 2030, equivalent to 10% of their total energy consumption.

Well, we can say that fostering a collaborative and holistic approach involving the relevant stakeholders, such as governments, automakers, energy providers, consumers, and civil society groups, addresses the challenges and barriers to seizing the benefits of a clean energy future for the automotive industry.

Sources:- Weforum, Forbes

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