World Economic Forum says zero emissions requires more EVs

The demand for sustainable transport solutions is rising and the number of electric vehicle (EV) purchases is growing exponentially.

To show this in numbers, the EV industry sold 6.6 million in 2021, which is more than double that of the year COVID-19 set in. EVs made up 9% of the automotive market share and near enough all of the growth in 2021, resulting in 66.7 million car sales.

But, in many countries, a further increase is the cost of living. With many of the latest EVs coming out at high prices that make them unfeasible for the average consumer, there must be other methods in place for individuals to utilise electric technology to decarbonise their own transport needs. 

While companies are doing their best to ensure that EVs are available, and now ramping up charging infrastructure, the majority of the automotive customer base won’t be nipping down to their local dealership to trade-in their petrol or diesel car any time soon.

The World Economic Forum (WEF) says that two billion EVs are required globally to reach net-zero emissions, but is that strictly true? 

Demand is growing, but not entirely for personal EVs

In April 2022, WhichCar? said that in Q1 of this year, there were 1.45 billion vehicles on the road across the globe—1.1 billion of those being passenger vehicles. The WEF’s prediction of two billion EVs means that the entire demand will be met, plus more. 

Despite the population increase over the next eight years, some organisations lead us to believe that public transport is the way forward and that, once infrastructure is ready for full electrification, mobility services will become commonplace. 

As an example, the growth of rideshare services is already taking place. Existing providers are growing and more entrants are joining the market to provide consumers with on-demand ride-hailing services. Alternatively, micromobility is shaping up to be a method of choice for inner city transport as the e-scooter movement continues. 

EVs have huge potential

Electric passenger cars are heralded as the saviour of our planet, and rightly so—providing renewable energy procedures are in place. While there are many opportunities for EVs to pick up the slack from internal combustion engine (ICE) vehicles.

But the landscape is changing. The industry must cater for more than just personal transport, which could result in less privately-owned cars on the roads and more infrastructure to allow pedestrians to access public transport solutions more conveniently.