World’s top automakers commit to EVs
Virtually all of the world’s largest automakers have committed to electrify part or all of their fleet – recognizing the growing demand signals and increasing policy support for zero-carbon transport. Many of these companies are going further – committing to limit their emissions in line with the goals of the Paris Agreement.
Companies back the science
30 companies in the Automobiles and Components sector have committed to science-based targets, through the Science Based Target initiative. Over a third of these have either committed or have had their targets approved this year (2020) – showing COVID-19 is not impacting climate ambition.
European automakers accelerate climate action
Germany’s BMW Group is the latest global automaker to commit to setting a science-based target. This is in addition to five of Europe’s largest automakers, PSA Group, Volkwagen, Groupe Renault, Volvo Car Group, and Daimler / Mercedes-Benz AG, which all have approved science-based targets.
Mercedes-Benz heads for carbon neutrality
Mercedes-Benz joined “The Climate Pledge” – a commitment co-founded by Amazon and Global Optimism. As part of its achieving its own climate targets, Amazon has ordered more than 1,800 electric vehicles from Mercedes-Benz Vans. Last year, Mercedes-Benz owner Daimler committed to make its entire passenger car fleet carbon neutral by the close of 2039.
Volkswagen doubles down on electric models
German automaker Volkswagen has accelerated plans to electrify its fleet, committing to launch 70 fully electric models by 2028, up from an earlier pledge to sell 50 by 2025. VW also set long-term ambitions to make the entire company CO2-neutral by 2050, including its factories, offices and cars and has set a science-based target.
Volvo will not launch another ICE-only model
Volvo is making progress on its commitment to phase out purely petrol and diesel powered cars, which it announced back in 2017. By the middle of this decade, the Swedish manufacturer expects to generate half of its worldwide sales with purely electric vehicles and the other half with hybrid cars.
J apan’s auto giants back climate strategy
In Japan, Toyota Motor Corporation, Nissan Motor and Yamaha Motor have committed to set science-based targets, while India’s Mahindra & Mahindra has an approved target.
Tesla lays down a challenge
And of course there’s Tesla – the poster-child for EVs and a genuine pioneer – is now the largest automaker by market cap, having overtaken GM and Ford. It is also outselling luxury German models from BMW, Audi and Mercedes in the US market.
Supply chain pioneers step up
A growing number of companies in the auto supply chain are also committing, including German tyre giant Continental, Mexico’s Nemak and Portugal’s TMG Automotive.