Electric hype, hidden costs
Financial Express Mumbai|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.

Producing an EV is significantly more energy-intensive than manufacturing a traditional internal combustion engine (ICE) vehicle.

This story is from the January 04, 2025 edition of Financial Express Mumbai.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the January 04, 2025 edition of Financial Express Mumbai.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM FINANCIAL EXPRESS MUMBAIView All
Financial Express Mumbai

Top IITs see a drop in campus placements

More students likely getting jobs independently

time-read
2 mins  |
January 07, 2025
Financial Express Mumbai

ICC explores two-tier Test cricket system

ICC chief Jay Shah will meet Cricket Australia chair Mike Baird and his England counterpart Richard Thompson to discuss the finer points

time-read
1 min  |
January 07, 2025
US set to lift curbs on Indian nuclear entities
Financial Express Mumbai

US set to lift curbs on Indian nuclear entities

Eyeing Deeper Energy Ties

time-read
1 min  |
January 07, 2025
Eight jawans among 9 killed in Naxal attack
Financial Express Mumbai

Eight jawans among 9 killed in Naxal attack

VEHICLE BLAST IN CHHATTISGARH

time-read
1 min  |
January 07, 2025
Cautious outlook for auto companies in Q3
Financial Express Mumbai

Cautious outlook for auto companies in Q3

No segment shows growth except tractors

time-read
1 min  |
January 07, 2025
Financial Express Mumbai

SBI Cards: Credit costs to improve

Management strengthens risk assessment measures

time-read
2 mins  |
January 07, 2025
Financial Express Mumbai

Banks: Slower loan growth a worry

Asset quality concerns ease

time-read
2 mins  |
January 07, 2025
In search of a growth driver
Financial Express Mumbai

In search of a growth driver

DIFFICULT TO IDENTIFY A SECTOR THAT HAS POTENTIAL TO LIFT ECONOMY TO A HIGHER TRAJECTORY

time-read
4 mins  |
January 07, 2025
Tesla and Waymo should learn from '24 air crashes
Financial Express Mumbai

Tesla and Waymo should learn from '24 air crashes

If you yearn for a future where you can travel from place to place in safety and comfort, some of the major transport events of 2024 might feel like a setback.

time-read
2 mins  |
January 07, 2025
Financial Express Mumbai

Judicial Overreach Unwarranted

High court order staying Religare Enterprises AGM risks undermining shareholder rights, regulatory authority, and market confidence

time-read
3 mins  |
January 07, 2025