Business Driving Demand for Electric VehiclesThe Climate Group
Transport is a rapidly growing contributor to climate change, with emissions increasing by 2.5% per year. It is impacting our health; 93% of children are breathing toxic air. But the pace of progress on electric vehicles (EVs) is a great cause for optimism. Since The Climate Group launched EV100 in September 2017, 31 major companies with over US$0.5 trillion in combined revenue have joined to accelerate the transition to EVs. Including a unique customer fleet commitment by LeasePlan, we are now targeting the electrification of more than two million vehicles by 2030.
This is the first EV100 Progress and Insights Annual Report. It shines a light on companies’ fleet and charging commitments. It identifies climate action as a key driver, alongside the opportunity to be seen as a leader, and a rapidly maturing business case – battery pack costs have fallen by 85% since 2010. The analysis covers the 23 members who joined by fall 2018. Despite identifying barriers such as lack of available vehicles and charging, these companies are switching at speed, sending a clear demand signal to the marketplace.