Car Side Mirror

Friday Five

27 Oct 2022 

The European Parliament and Council have agreed on legislation requiring all new cars and vans registered in the EU to be zero-emission by 2035. The 2035 target was initially proposed last year as part of the European Commission’s “Fit for 55” roadmap, the EU initiative to cut greenhouse gas emissions by 55% by 2030, compared to 1990 levels.

 

The agreement marks a significant step towards the completion of the Fit for 55 negotiations, as it is the first significant aspect of the strategy to reach a final deal. With the agreement by the Parliament and Council, the proposal will now proceed for formal adoption. In addition to the 2035 goal, the proposed legislation includes interim targets requiring a 55% CO2 emission reduction for new cars and 50% for new vans by 2030, compared to 2021 levels.

 

The EU Parliament and Council also agreed to keep in place a regulatory mechanism for zero- and low-emission vehicles (ZLEV) until 2030, rewarding manufacturers with less strict CO2 targets if they meet specific benchmarks for sales of zero- and low-emission vehicles, but with those benchmarks, increased from 25% to 17%.

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CHASING THE GREENEST CAR #01 | How do we source a sustainable future? | BMW Podcast

In this podcast, BMW explores some of the ways in which the automotive industry is embracing the principles of a circular economy for both the production and life cycle of their vehicles.

 

The automotive industry has traditionally been one of the most environmentally harmful industries in terms of pollution, resource depletion, and waste disposal. However, many automakers have begun to recognize this and are working towards becoming more sustainable. In particular, they're focusing on achieving full carbon neutrality across their entire supply chain by embracing the principles of a circular economy for both the production and life cycle of their vehicle.

The Inflation Reduction Act, passed late last month, is more important than analysts at the investment bank Credit Suisse have recognized. The IRA will "have a profound effect across industries in the next decade and beyond," the bank argues, and could ultimately shape the direction of the American economy.

 

The report shows how even after the bonanza of climate-bill coverage earlier this year, we're still only beginning to understand how the law works and what it might mean for the economy.

 

The report made a few broad points worth attending to First, many of the IRA’s most important provisions are uncapped tax credits.

 

That means that as long as you meet their terms, the government will award them: There’s no budget or limit written into the law that restricts how much it can spend.

 

The widely cited figure for how much the IRA will spend to fight climate change—$374 billion—is in large part determined by the Congressional Budget Office’s estimate of how much those tax credits will get used.

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The CRC Press has announced a new book on hydrometallurgical recycling of lithium-ion battery materials featuring Recylico's patented process.

 

This exciting new technology could help reduce battery waste's environmental impact.

The automotive industry is in the midst of a major shift. Automakers around the world are spending billions on electric vehicle research and development, and they're not alone.

 

The world's top automakers are planning an extraordinary level of spending to develop and produce millions of electric vehicles, along with the batteries and raw materials to support that production, over the next eight years, according to a Reuters analysis of public data and projections released by those companies.

 

In the third instalment in this series since 2019, Reuters calculates that global automakers expect to spend nearly $1.2 trillion through 2030 on EVs, batteries and materials.

 

The number, which has not previously been published, dwarfs previous investment estimates by the industry and is more than twice the previous calculation published just a year ago.

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