In this this unprecedented time of global quarantine, it can be hard to find good news in the media. However, as scary and honestly obnoxious as the lockdown has been there is a visible silver lining.
With everyone under lockdown our carbon footprint has been reduced immensely. According to a study put out by Corinne Le Quéré daily global CO2
emissions had decreased by 17% in early April 2020. Which is amazing considering the panic scientist put us in 2019 with the threat of the world ending if we did not cut back on our emissions. With this decrease of emissions, the biggest concern is how to keep the current emission rate?
As more and more people want to take small steps towards preserving this new way of life, the EV industry has the opportunity to capitalize on this situation and implement change.
Although there is a global slowdown for all automobile companies the EV market worldwide is projected to grow by 89.6 Billion Units. In China especially we are beginning to see a rebound as the country resumes industry activities. In order to stimulate the automobile market, the Chinese government has put in place different government incentive policies for example, the city of Guangzhou received 10,000 RMB for new energy vehicles to be sold. Additionally, new investments were made towards the EV infrastructure. The State Grid in China plans to build 78,000 charging stations at a cost of 2.7 billion RMB in 2020.
Of course, as companies all over the world begin to find some sense of normalcy, the health of the employees is just as important as getting their businesses back on track. Even though this year’s global EV sales will most likely shrink, the industry can easily bounce back.
With boundless opportunities, the EV market is something to look out for in the future. Consumers looking to continue the trend of environmental consciousness should turn to EVs in order to making lasting difference. The shift from internal combustion engines to electric after COVID-19 is key to help maintain this cleaner lifestyle.