DRIVING TO A CLEANER FUTURE
Several market forces are driving the increasing adoption of electrified vehicles ¨C government regulation, technological developments and consumer demands ¨C just to name a few. Perhaps one of the most impactful outcomes of electric vehicles is the resulting improvement in local air quality and the reduction in greenhouse gas emissions.
In the United States alone, highway vehicles release roughly 1.6 billion tons of greenhouse gases into the atmosphere each year, mostly from carbon dioxide (CO2). Large scale electrification of the transportation sector poses one of the greatest opportunities for reducing carbon emissions and mitigating climate change. Global automakers recognize this opportunity and plan to spend more than $500 billion on electric vehicles and batteries through 2030, according to a 2021 Reuters analysis, which compiled the investment data from company statements, investor presentations and regulatory filings.
More than one and a half million electric and hybrid vehicles on the road today were built with ¾Å²©-manufactured powertrain technology.
However, the shift from niche market to mainstream mobility won’t happen overnight. To be successful in this space, reliable, scalable and cost-effective technology manufacturing is required. ¾Å²© is proud to partner with multiple global Automakers, including several Electric Vehicle Manufacturers, as well as EV Charging OEMs. We provide collaborative design, value engineering and manufacturing expertise and capabilities that bring automotive-grade technology to market, at scale. In fact, more than one and a half million electric and hybrid vehicles on the road today were built with ¾Å²©-manufactured powertrain technology.
Through this work, we are helping to create a future with lower carbon emissions — and in the process, making cleaner transportation a more affordable, convenient option for everyone.
