MJB&A, an ERM Group company, launched an updated report titled, Electric Vehicle Market Status – Update: Manufacturer Commitments to Future Electric Mobility in the U.S. and Worldwide, in September. This report is the second update to a report first released in May of 2019, and was developed by MJB&A for the Environmental Defense Fund (EDF).
Within the report, authors share data that address key electric mobility topics, including drivers of U.S. and global electric vehicle (EV) growth, auto manufacturer investments in EV development and in building a robust infrastructure of charging networks for drivers, announced new EV model introductions and projected sales, and projected date of “cost parity” with traditional internal combustion engine vehicles.
The report highlights that globally auto makers have committed to spend $185 billion on vehicle electrification over the next 10 years, including at least $11 billion on domestic U.S. manufacturing, supporting the view that the auto industry has embraced the vision of electrified mobility and the EV market is on the cusp of a period of significant growth. Transportation is now the largest source of greenhouse gas emissions in the United States, and the transition from internal combustion engines (ICE) using petroleum fuels to electric vehicles is a key component of the over-all Low Carbon Energy Transition.
Also noted are the significant developments related to medium- and heavy-duty electric vehicles, including manufacturer efforts to develop electric commercial vehicles, and electric vehicle orders and fleet electrification commitments by major companies such as Amazon, FedEx, and UPS.
“A few years ago, the EV discussion was all about light-duty consumer vehicles. We are seeing a growing interest in electrification of medium- and heavy-duty commercial vehicles as well – not just from government policy makers and NGOs, but also from electric utilities and major fleet operators,” said Dana Lowell, MJB&A Technical Director who consults with the Transportation sector. “Major truck manufacturers are beginning to offer electric vehicles due to rising demand from companies that manage large company fleets, as well as those that rely on third-party freight companies to move materials throughout the supply chain. These companies are looking to fleet electrification to reduce their greenhouse gas emissions, as part of corporate sustainability efforts.”