Over the last few years, the general public has become more concerned about climate change and more willing to take action to reduce it. Natural disasters like wildfires, avalanches, hurricanes, heatwaves, and drought are occurring more frequently than ever before. In 2020 alone, there were 22 incidents that did over $1 billion in damage, compared with an average of six per year between 2002 and 2010.
Transportation is widely recognized as a major source of carbon emissions and other pollutants that affect public health and poison the environment, making electric vehicles (EVs) increasingly popular. Fully electric vehicles produce zero direct emissions, and even the lifecycle emissions caused by EV production are still significantly lower than for gas or diesel-fueled vehicles. Hybrid electric vehicles, which run on both electricity and fossil fuels, are more efficient than traditional cars and also help lower emissions.
“All vehicles produce substantial life cycle emissions, and calculating them is complex,” notes a guide from the U.S. Department of Energy, because measuring the carbon footprint of your car according to the gasses that come out of its tailpipe only represents part of the picture. Plug-in electric car charging still requires that the energy be produced in some manner. “However, EVs typically produce fewer life cycle emissions than conventional vehicles because most emissions are lower for electricity generation than burning gasoline or diesel.”
Despite all the hype surrounding Tesla, it’s hardly the only company selling EVs. Hyundai, Toyota, Chevrolet, Nissan, and Volvo all produce or are shifting to producing EVs and hybrid vehicles. Volvo recently announced its intention to make and sell only electric vehicles by 2030, as part of the company’s shift to more environmentally sustainable transportation.
This trend, of course, represents a general realignment of the market in favor of EVs. Worldwide EV sales reached 2.3 million in 2020, which is four times the units sold in 2015. In China, 3.35 million EVs were on the road by the end of 2020, making it the world leader for EV sales, but electric transportation is also becoming increasingly popular in Europe. Over half of all new EVs sold in 2020 were sold in Norway.
The signs are all pointing towards electrified transport, and EV sales are expected to continue to rise in 2021, but the world is still very much in transition. It will likely take decades or longer before we reach anything close to 100% market share for EVs.
EVs have a long way to travel
Although EV sales are likely to remain strong in the long term, in the short term they are slowing down. Market analysis from the Financial Times shows that the financial outlook is relatively bleak right now for electric car manufacturers, with Tesla down 11% and Nio, its Chinese competitor, dropping 13%. The market has lost $730 billion overall since the start of the year.
To be fair, much of this has to do with the broader collapse of the international automotive market. In the first few months of COVID-19, the pandemic forced manufacturers to close their factories, and with lockdowns in place in much of the world, consumers weren’t inclined to buy new cars. Globally, the market contracted by around 14% in 2020, and although EV sales were expected to be more resilient and bounce back sooner, they mirrored the rest of the market. In the first half of 2020, global EV sales were about 15% lower than the same period in the previous year.
While most countries and cities have opened up and people are driving again, car sales remain notably depressed. Millions of people have lost their jobs, and incomes have dropped significantly around the world in the last 12 months, leaving many consumers closing their wallets and avoiding extra expenses.
A McKinsey report found that 40% intend to cut discretionary spending this year, and PWC has reported that 36% of respondents will spend less in the next 12 months – close to double the number who gave that answer before the pandemic.
McKinsey notes that the pandemic brought down the price of oil significantly, so “Although EVs will still have lower total costs of ownership than traditional ICE vehicles do in most segments, the advantage will not be as great, and that shift could influence sales.” Although government incentives like tax exemptions and price subsidies may encourage EV sales, consumers are highly motivated by the extent of the extra cost of fuel.
More ways to make vehicles greener
EV sales may not be enough to make a real difference to transport emissions for many years to come, but it’s not the only option for those concerned about climate change. Until electric vehicles become the norm, there are ways to reduce the level of harmful greenhouse gases produced by internal combustion engine (ICE) vehicles, by improving the fuel they use through fuel additives.
Many consumers are familiar with lead-based gasoline additives that were added to older cars when leaded gasoline was phased out of the market, or those used by race car drivers to improve performance. Alternative fuels like ethanol and biodiesel are less harmful to the environment than gasoline, at least from the perspective of extraction and refinement. There are also a number of additives like Lucas and Star Tron that claim to boost gas mileage efficiency by helping to keep engine components clean.
There’s also considerable buzz surrounding innovations in the field of carbon capture, but scientists have yet to figure out how to integrate these solutions directly with combustion engines.
And then there are fuel additives, such as the one produced by greentech startup FuelGems, which can significantly decrease the damage caused by vehicles that use standard-issue gasoline and diesel. FuelGems’s additive consists of nanoparticles which are safe and burn up inside the engine. The company, which is currently engaged in pilot programs with leading fuel concerns, claims that a small dose of one to five grams of the additive is enough for 260 gallons of fuel, translating to a rise of approximately 2 cents per gallon on the pump price and up to 50% reduction to overall dangerous emissions.
Fuel additives could preserve the planet
Improving the environmental impact of transportation and vehicles doesn’t have to wait until EV sales dominate the market. With EV sales slowing in the short term and ICE vehicles remaining widespread, we need to take all the steps we can to lessen the damage caused by vehicle emissions. FuelGems’ fuel additive can reduce harmful emissions and lower the cost of diesel and gasoline-powered transportation while EV use catches up.
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March 17, 2021 at 01:24AM
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