Day: June 14, 2024

The Electric Vehicle (EV)The Electric Vehicle (EV)

ev vehicle

A vehicle powered by an electric motor and battery. Electric vehicles can be run on a variety of fuels, including conventional petrol and diesel fuel and alternative clean energy such as bio-diesel, natural gas, reclaimed hydrocarbons or electricity.

As the ev vehicle market grows and models are increasingly advanced, EVs are an important technology to decarbonise road transport – a sector that accounts for 15% of global energy-related emissions. Significant fiscal incentives, notably purchase subsidies and registration tax rebates – akin to cash-for-clunkers schemes – have accelerated the initial uptake of EVs and supported a rapid scale up in EV manufacturing and battery production.

To reach a trajectory consistent with the IEA Sustainable Development Scenario, 230 million EVs will need to be on the world’s roads by 2030. The 2020s must therefore be the decade of mass adoption, especially of passenger EVs.

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The growth of EVs is being driven by progressive tightening of fuel economy and tailpipe CO2 emission standards, as well as consumer demand for clean and quiet vehicles. Other factors include increasing cost competitiveness, better performance and improved range.

As a result, electric vehicle (EV) sales are increasing worldwide, although there is still some way to go before the vast majority of cars sold are electric. This is because complex economic and societal issues affect how quickly EVs can replace traditional internal combustion engine (ICE) vehicles.