Electric hype, hidden costs
Financial Express Chennai|January 04, 2025
INDIA MUST EMBRACE A BROADER, MORE INCLUSIVE VISION OF CLEAN MOBILITY
M MUNEER

The electric vehicle (EV) revolution has been lauded as a game-changer in the fight against climate change, promising to reduce carbon emissions and promote sustainable transportation.

Governments worldwide are investing heavily in this transition through subsidies, policies, and infrastructure development.

While EVs undoubtedly play a role in reducing emissions, the narrative surrounding their unblemished benefits deserves a closer look. An analysis reveals that the EV revolution is not the panacea it is portrayed to be. Resource constraints, environmental implications, and socio-economic challenges raise questions about the long-term sustainability of this shift.

At first glance, EVs seem like an environmental savior, producing zero tailpipe emissions. But this ignores the significant resource demands and environmental costs tied to their production, especially the manufacturing of lithium-ion batteries, their main engine.

Lithium and cobalt, critical components of EV batteries, are extracted at a staggering environmental and social cost. Around 70% of the world's lithium reserves are concentrated in the "lithium triangle" of Argentina, Chile, and Bolivia, where mining operations are water-intensive, depleting resources in already arid regions. Cobalt, predominantly sourced from Congo, presents an equally troubling scenario. Reports of hazardous working conditions, child labor, corruption, and geopolitical tensions prevail in the dark underbelly of cobalt mining. The skyrocketing demand for these minerals risks triggering resource scarcity and "resource wars" as nations vie for economic power driven by fuel – whoever controls the fuel gains power.

Esta historia es de la edición January 04, 2025 de Financial Express Chennai.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

Esta historia es de la edición January 04, 2025 de Financial Express Chennai.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

MÁS HISTORIAS DE FINANCIAL EXPRESS CHENNAIVer todo
Financial Express Chennai

Israel-Hezbollah Truce Set to Extend Beyond Next Week

The ceasefire agreement that paused the war between Israel and the Hezbollah militia in Lebanon will likely be extended when it expires next week, according to several people familiar with the matter.

time-read
1 min  |
January 23, 2025
Financial Express Chennai

Govt to seek views on making auto expo annual affair

BHARAT MOBILITY GLOBAL Expo 2025 came to a close on Wednesday after witnessing around 200 product unveils across automotive, components and technology, with the government planning to seek industry views to make it an annual affair.

time-read
1 min  |
January 23, 2025
Financial Express Chennai

India's 'year of reforms' in defence

A close engagement between the private industry and govt is critical to achieve a robust policy along with adequate budgetary allocations in 2025

time-read
3 minutos  |
January 23, 2025
Financial Express Chennai

In message to China, Quad talks of open Indo-Pacific

Newly appointed US secretary of state Marco Rubio raised the issue of \"irregular immigration\" in his very first meeting with external affairs minister S Jaishankar in Washington DC on Wednesday.

time-read
3 minutos  |
January 23, 2025
Financial Express Chennai

Stargate: A Wake-Up Call for India to Act Fast on AI Autonomy

US President Donald Trump's announcement of the $500-billion Stargate project to build AI infrastructure is, experts say, a wake-up call for India to urgently advance its efforts toward achieving self-reliance in the artificial intelligence (AI) sector.

time-read
2 minutos  |
January 23, 2025
Financial Express Chennai

Interest rate cut will spur demand for home loans

An interest rate cut will spur demand for home loans, Girish Kousgi, managing director and CEO, PNB Housing Finance, tells Anupreksha Jain.

time-read
1 min  |
January 23, 2025
Financial Express Chennai

Court Acquits Khaleda Zia in 10-Year-Old Sabotage Case

A court in Bangladesh acquitted BNP Chairperson and former prime minister Khaleda Zia on Wednesday in a sabotage case filed in the southeastern Cumilla district 10 years ago.

time-read
1 min  |
January 23, 2025
Financial Express Chennai

HUL profit rises by 19.5% on Pureit sale

THE NET PROFIT (excluding the exceptional item) stood at ₹2,492 crore, down 1.07% compared to last year.

time-read
1 min  |
January 23, 2025
Financial Express Chennai

H-1Bs fill key skills gap: Nasscom

REDUCING RELIANCE

time-read
2 minutos  |
January 23, 2025
Financial Express Chennai

Food, fertiliser and LPG subsidies may be raised

The government is likely to raise spending on food, fertiliser, and cooking gas subsidies to ₹4.1 lakh crore in the next fiscal year, sources said, a moderate 8% year-on-year increase to cover higher food and energy costs.

time-read
1 min  |
January 23, 2025