With several governments around the world looking to replace conventional vehicles with electric cars (“EVs”), it looks like one day internal combustion engine vehicles will become obsolete. Not only have authorities set targets for the electrification of their roads, but some have also levied fines on automakers whose vehicles produce carbon emissions. For all intents and purposes, it seemed as if the gas-powered vehicles millions of consumers had purchased over the years would be unusable a decade or two down the line.
However, thanks to a synthetic green fuel being developed by Porsche, drivers may be able to use their gas-powered vehicles without contributing to the world’s carbon emissions. The German automaker has announced that it is investing more than $28 million to fund the development of a synthetic fuel that would make older, gasoline-powered vehicles greener. This new eFuel will keep older vehicle models that would have otherwise been rendered obsolete by the move to electric vehicles on the road for much longer, Porsche says.
For drivers of classic Porsche vehicles and anyone else with an internal combustion engine vehicle, this comes as good news. Motor journalist Amanda Stretton says that although electric vehicles are poised to take over the roads, petrol and diesel-powered vehicles aren’t going anywhere for a long time. This is especially true for locations with forests, deserts, less-developed markets and locations that do not have charging infrastructure so the switch to electric vehicles is likely to take place more slowly.
As Porsche primarily manufacturers high-performance, gasoline-powered vehicles, producing eFuel is in the company’s best interests. The German automaker claims its synthetic fuel would reduce carbon emissions by more than 85%. When considering the environmental toll of producing EV batteries into account, the synthetic fuel is even greener than electric vehicles, Porsche says.
The synthetic fuel will be produced at one of the company’s facilities near the largest wind farm in Chile, with Porsche leveraging wind power to produce synthetic methanol gasoline using eco-friendly hydrogen. The automaker plans to produce 550 million gallons of synthetic fuel by 2026, with the first batches of fuel being used for its motorsport activities.
Despite spending millions on its new green fuel, Porsche is still committed to electrifying its lineup of vehicles, saying that 50% of its models will be either electric or hybrid by 2025. The synthetic fuel is just one of the company’s solutions for eliminating carbon emissions in its operations.
It looks like the stage has been set for competition between different EV models marketed by the traditional vehicle makers such as Porsche and electric vehicle startups like ev Transportation Services Inc., which offers a vehicles designed for the essential services transportation and urban mobility markets.
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
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