World EV Day 2022: Why you should buy one

As the globe marks World EV Day on September 9, here’s everything you need to know about the importance of e-mobility and environmental protection.

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World EV (Electic Vehicle) Days is observed on September 9 in countries globally with the aim of creating awareness about the importance of clean mobility and zero-emission goals. Read to know more about World EV Day.

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World EV Day is celebrated across the globe on September 9 with the goal to push for e-mobility and raising awareness about the significance of electric vehicles for the environment. Amid the ongoing climate change concerns, car makers in countries across the world have begun planning or offering electric vehicles to their consumers. This comes in the fallout of rising gas and fuel prices.

Not only as humans but also as consumers, people are seeing the exceptional benefits EVs are bringing on the roads, ranging from low maintenance to the ability to save the planet. World EV Day serves as a reminder to focus on alternate and sustainable options to fuel vehicles.

Global EV scenario

In recent years, there has been a notable push towards clean mobility. World governments are setting targets for zero emissions in view of the climate crisis. Similar efforts have led to the introduction of various incentives to accelerate the production and sale of electric vehicles in the automobile industry. 

EVs emit significantly lower greenhouse emissions compared to a vehicle with an internal combustion engine which will help in reducing the carbon footprint. A report by a UK-based energy company named EDF, an electric car can save an average of 1.5 million grams of CO2 during the course of a year.

World leaders in EV

China is the world’s largest EV market, providing a robust infrastructure and policies for numerous EV markers to set their bases in the country. According to reports, China sold 51.7 percent of the combined EVs produced in the world in 2021, amounting to a total of 3,519,054.

South Korea is becoming the next big hub for electric vehicles as the country aims to possess 1.13 million all-electric vehicles by 2025. Europe is leading the green way by developing a favorable hotspot for the growth and development of the EV market in the region. These countries are offering commendable EV subsidies and incentives to encourage the mass population to join the bandwagon and confirm their commitment to clean energy. 

EVs in the US

The United States, on the other hand, managed to produce 631,152 EVs. Interestingly, the electric vehicle market in the US is expected to grow at an annual rate of 24.58% during 2022-2027. The US EV market is witnessing a boom in recent months in view of the rising fuel cost and pollution levels in the country. 

More than 15 states in the US have already announced their targets to convert at least 30 percent of commercial HDVs (heavy-duty vehicles) into ZEVs (zero emission vehicles) by the year 2030. The country is aiming to convert all HDVs vehicles into greener vehicles by 2050.

Need for expanding efforts

As pollution across the world continues to grow at unprecedented levels, electric vehicles can serve as a step closer not only to improving the air quality but also saving the environment. 

It is important to note that government policies play a vital role in minimizing certain consumer barriers pertaining to a lack of awareness, higher costs and scarcity of appropriate EV models. Therefore, it is the need of the hour that world governments pay further attention to the crisis at hand and implement the required policies to control the harmful emission from vehicles.

This page is purely informational. Line does not provide financial, legal or accounting advice. This article has been prepared for informational purposes only. It is not intended to provide financial, legal or accounting advice and should not be relied on for the same. Please consult your own financial, legal and accounting advisors before engaging in any transactions.

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