But it will also require transformational change and a fundamental shift in business models for most automakers. This can be accomplished by further accelerating the adoption of zero-emission vehicles while strengthening the incentives to remove gas and diesel guzzlers from the roads. For the EU to achieve its Green Deal targets, for example, it would need to reduce light-vehicle emissions by 90% by 2043-seven years sooner than currently forecasted-to compensate for its car parc emissions. Steering the fight against climate change on course will require most markets to speed up the EV transition even further. As a result, our modelling predicts that the automotive sector in most major markets, including the EU with its European Green Deal, will likely fall well short of Paris Agreement targets for cutting worldwide emissions. That’s because the global “car parc”-the total stock of vehicles in use-will change over far more slowly. Technology, Media, and Telecommunications.
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