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.
Already a subscriber ? Sign In
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.
Already a subscriber? Sign In
Top IITs see a drop in campus placements
More students likely getting jobs independently
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
US set to lift curbs on Indian nuclear entities
Eyeing Deeper Energy Ties
Eight jawans among 9 killed in Naxal attack
VEHICLE BLAST IN CHHATTISGARH
Cautious outlook for auto companies in Q3
No segment shows growth except tractors
SBI Cards: Credit costs to improve
Management strengthens risk assessment measures
Banks: Slower loan growth a worry
Asset quality concerns ease
In search of a growth driver
DIFFICULT TO IDENTIFY A SECTOR THAT HAS POTENTIAL TO LIFT ECONOMY TO A HIGHER TRAJECTORY
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.
Judicial Overreach Unwarranted
High court order staying Religare Enterprises AGM risks undermining shareholder rights, regulatory authority, and market confidence