Categories Green Car Stock

ICE SUVs Cancelling Climate Benefits of EVs

With more people recognizing the benefits of going green, electric vehicle (“EV”) sales have been steadily increasing. Despite the coronavirus pandemic and the resultant economic crisis, 2020 was quite a great year for EVs, with customers around the globe buying a whopping 3.24 million battery electric vehicles and plug-in hybrid vehicles. However, internal-combustion-engine- (“ICE”) powered SUVs grew in popularity as well, effectively canceling out the progress the world had made as it pushes towards electrification.

According to energy modelers Laura Cozzi and Apostolos Petropoulos, the ever-present demand for sports utility vehicles is making it much harder to reduce carbon emissions and meet global climate goals. On top of increased EV sales, 2020 also saw a 10% drop in oil consumption, or more than 1.8 million barrels a day, by ICE cars, with the exception of SUVs, Cozzi and Petropoulos say. This can mainly be attributed to reduced travel due to the pandemic, they say, and it is likely that the drop in oil consumption is just temporary.

The increased uptake of electric vehicles accounted for a drop of around 40,000 barrels a day. Unfortunately, this also corresponded with an increase in the sale of SUVs, with 42% of buyers opting for the sports utility vehicles. There are more than 280 million SUVs on the roads globally, and on average, one such vehicle consumes 20% more energy per kilometer than a medium-sized vehicle. Consequently, increased SUV sales resulted in a jump in oil consumption, canceling out the green effect of electric cars, Petropoulos says.

To maintain a proper trajectory in terms of reducing carbon emissions and meeting climate goals, Petropoulos urges policy makers to find ways to persuade people to opt for smaller, more fuel-efficient vehicles. Although global carbon gas emissions from conventional cars (excluding SUVs) fell by nearly 350 megatons from 2010–2020, emissions from SUVs increased by more than 500 megatons, effectively canceling out the gains made by choosing smaller, fuel-efficient vehicles and switching to electric vehicles.

Glen Peters from the CICERO climate research center in Norway calls the boom in SUV sales “heartbreaking.” Despite the growth of the EV market, overall emissions from all types of cars won’t fall until the demand for SUVs is reduced by a wide margin. Petropoulos posits that the growing demand for SUVs could be due to rising prosperity in countries such as South Africa and India, as well as heavy marketing by carmakers.

Nevertheless, EV makers aren’t deterred and are pressing ahead with production and innovation. For example, ev Transportation Services Inc. focuses on making light-duty commercial vehicles geared at addressing the transportation needs of essential services providers (grounds maintenance crews, for example).

NOTE TO INVESTORS: The latest news and updates relating to ev Transportation Services Inc. are available in the company’s newsroom at https://ibn.fm/EVTS

About Green Car Stocks

Green Car Stocks (GCS) is a specialized communications platform with a focus on electric vehicles (EV), as well as other emerging market opportunities in the green sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, GCS is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, GCS brings its clients unparalleled visibility, recognition and brand awareness. GCS is where news, content and information converge.

To receive SMS text alerts from Green Car Stocks, text “Green” to 21000 (U.S. Mobile Phones Only)

For more information, please visit https://www.greencarstocks.com

Please see full terms of use and disclaimers on the Green Car Stocks website applicable to all content provided by GCS, wherever published or re-published: https://www.greencarstocks.com/Disclaimer

Green Car Stocks
Los Angeles, CA
www.greencarstocks.com
415.949.5050 Office
Editor@GreenCarStocks.com

Green Car Stocks is part of the InvestorBrandNetwork.

Lacey@GCS

Share
Published by
Lacey@GCS

Recent Posts

Dutch Students Develop Modular EV You Can Repair on Your Own

Dutch engineering students have unveiled an electric vehicle concept designed around a simple idea: drivers should be…

20 hours ago

Norway Moves Closer to the Elimination of ICE Vehicles

Norway has moved closer to eliminating internal combustion engine vehicles from its new car market, achieving penetration…

2 days ago

BYD Dethrones Tesla as Top EV Maker Globally

Chinese automaker BYD has seized the crown as the world's top electric vehicle seller, ending Tesla's decade-long…

5 days ago

Mass Adoption of V2G EV Charging Could Curb Wastage of Renewable Energy

Mass adoption of vehicle to grid (V2G) technology could play a major role in curbing renewable…

2 weeks ago

EU Eases its 2035 EV Mandate as Major Hurdles Slow Progress

The European Commission has proposed softening regulations requiring all new vehicles sold by 2035 to produce zero emissions.…

3 weeks ago

Ford Scales Back its EV Plans, Writes Off $19.5 Billion in Losses

Ford is abandoning efforts to build large battery-powered vehicles, pointing to sluggish sales and EV…

3 weeks ago