Paris Agreement

Paris Agreement

Generally speaking, Paris agreement is the foundation of the development of EV market. Most of governments of the large and influential countries have deployed a huge discount when purchasing EVs.  Without those subsides/benefits, the EV market would have been negligible because the price of EV could not compete with ICE cars at all.

The goal of Paris agreement is to limit global warming to well below 2 degrees Celsius, preferably to 1.5 degrees, compared to preindustrial levels[1]. I have gathered the selected countries corresponding actions/targets for passenger cars in Table 1.

Table 1 Selected countries with their EV targets

In July 2021, the European commission proposes more ambitious target for reducing the CO2 emission of new vehicles[2]:

·       55% reduction of emissions from cars by 2030

·       50% reduction of emissions from vans by 2030

·       0 emissions from new cars by 2035

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[1] https://unfccc.int/process-and-meetings/the-paris-agreement/the-paris-agreement

[2] https://ec.europa.eu/commission/presscorner/detail/en/IP_21_3541